Very Nice and crisp explanations. To add some points, even when US inflation exceeds that of India, RBI always has a policy to manipulate to make the rupee weak because they can keep selling INR and buy USD while they cannot do the other way around. So INR appreciation is almost not allowed except for a brief period until RBI intervenes. Secondly, once you start investing in India Income tax guys will start haunting you like a criminal asking questions on 6 to 7 year old investments multiple times and take all your time attending their summons and paying to auditors. From my experience it is better to invest outside India and keep limited investments in India to live a peaceful and respectful retirement life preferably as NRI. Even real estate investment returns for the past 10 years is insignificant considering the rupee depreciation, low rental rates compared to other countries though this is for a specific period.
To your question about inflation and Indian rupees position in the coming six months. , Dollar will strengthen and rupee will loose , again my speculation is rupee will position around $1 = Rs 74 , 75. Thanks
I have seen dollar for Rs 5,50 and , I see now a dollar going for 73/74 INR. The trend was never in favor of Rs, nor it is now. Guy talks about if the inflation in India goes to two percent, and US inflation climbing to 6%, I will say that is a most unlikely scenerio. Only for two years ( 1979 and 1980) US inflation touched double digit, and for last few years inflation is below one pecent, and average US inflation has been less than 2% in last 50 years. India on the other hand always average 6 to 7% inflation and peak 27% this year due to the pandemic. So friends, I will never bet on Rs, for me dollar is the safest investment. It's your money, you can decide for yourself.
To add one more, if you are US resident and keep FD etc in India, you are liable to pay taxes to Federal & stage govt (which you pay in dollars each year), so in long run, as rupee depreciates your savings value decrease, as you end up paying more taxes in dollars and loose value. Another thing, people think investing real estate in India is good option, but what I have seen, the dollar value of the real estate change is almost negligible, e.g. a 2B flat in 2015 in Bangalore cost 40L, today its value is 55L, but the dollar value for both these is 67k usd. so essentially you did not make any money, but paid for property taxes, interest on emis, and when you go for selling these you end up paying more taxes, as that is capital gains in INR. Even if you think earning additional income by renting your real estate, its not that easy and not everyone can manage it remotely.
I can't thank you enough for providing me with this answer. Sounds simple enough to factor in the inflation rate when looking at interest rates of India and here in Canada. I was thinking of deposting money in India thinking of making more due to the interest here which is around max 1.25% to India which was giving me 6% average. Thank you for this video.
Dear Mr. Bhat, Thank you for your videos. The problem NRIs face with keeping money in NRE accounts is repatriation of money from the NRE account to their foreign currency account. I am in Australia and struggle to get the money/ interest accumulated in the NRE account back to my Australian bank account at a good exchange rate. Banks are the worst in shaving large sum of the the profit in to-fro movements and there are not many organizations which offer this service. Please advise/ make a video on better repatriation options other than banks if you know of. Thanks again, subscribed!
Dear Ankur Bhat, Yes a problem exist in this sphere . Not many money exchanges are there in India . You Can try Thomas Cook branch to remit back which may give you better rate. Don't transfer small amounts of money as fixed charges from banks will eat up your amounts. You can also consider FCNR deposits in Australian dollars if that helps. You may also consider opening a singapore account with ICICI bank or any other private Indian banks . If you have a specific query send it on my whatsapp 00971 50 1484595. Please subscribe and keep sharing videos.
Currency involves two things, exchange rate and interest rate. These are supposed to offset each other. However, if you use BlockFi, and keep your money in usd coins you can earn 8% interest rate, this getting the advantage of both exchange rate and interest rate. Unfortunately blockfi is not available in New York State yet.
@@truthsayer5824 a crypto bank where you deposit crypto and collect interest in crypto. you can also use stable coins like USDC which are equivalent to usd. But recently I here Celsius is better than BlockFi.
You talk about how holding dollars vs rupees doesn’t matter as it will be a wash. My question is won’t there be a difference in return owing to how interest is taxed in India vs the US?
Good analysis !! The speaker, has clear vision and clarity. I subscribed for this portal. Regarding INR, in coming 1 year, it will appreciate verses US $. Or at least stay at par, as at present.
I think inflation will be up in india and govt is privatizing psu and bank. There will be devaluation of rupee. Hence its better to keep in dollars for nri
I am living in Switzerland i keep small money in India just for travel. Exactly you said for our children's studies we have to keep Swiss francs we can't pay with Indian rupees.
Never invest in India on lands or homes until you went back and lived there for years. Your interest/dividends from those investments in US stock market ( UK or Australia ) will pay for a nice rental place. While your investments will grow in leaps and bounds in stock market and with the conversion rate, you will be much happier. Don't listen to the stories which are like lottery winners.
India is inflated economy. If you keep in INR it will be very quickly devalued. USD is very strong because US govt is stronger than Indian govt. They never allow USD to go down in the international market. If you are affordable to hold USD, then it is always be your first choice of keeping it. Invest in proper way instead of paper currency to get the money growing. Good luck.
NRI MONEY CLINIC gives tremendous information for NRI'S.We can't follow all tips because we are outside.Your videos are more informative and help us to clear our doubts.Could you make a video about TAX over FCNR Account.?
Hello sir, now when india has decided to deal in rupees with many countries and inflation comparisons are much in favor of India.....what's your view with present situation.
it all depends. In 2000, 1 USD=~40 rupees. if i had deposited 100K USD in NRE FD rupee account and compounded that for 20 years, it would have become ~672K USD (1 usd=40 rupee value). if i had kept that same 100k in the US with ~2% (actually since 2009 it is almost 0%), that money is worth ~180k now. So, even if 1 USD = 80 rupees today, having it india fd for 20 years is profitable. so, it all comes down to what you do with that money in india or US and how long you can retain that money. i have given that in fd for 20 years as example.
Do not agree. if you are going thru all that trouble of opening NRE account etc. etc. you can as well invest in US MUNCIPALITY BOND some are tax free and gives return of 4+% . The rupee devaluation does not help keeping money in India and paying tax on interest earned.
@@gakkadguy compare apples to apples. Now you went to muni bonds from bank CD/FD. i could have invested in bitcoin and could have been a millionaire (1000 USD invested in 2011 is now worth more than 250 million). there is no pain in moving funds between two accounts. i do it quite often. you just have to balance as nobody knows the future. keep some in usd and keep some in rupees and get returns on both ends.
Sir can you please make video on taxation on equities and debts on NRI investments in India and also please include about TDS deduction and reclaiming procedure..
30+ years outside the country, best advice is keep it on DOLLARS until you need it very badly. DO not invest in land ( worst , its like gambling - only a very few are lucky in this ). Invest it in the stock market - even the index stocks will fare much better. Do not buy homes or buy lands or any thing. If you want to buy home, buy after 3 years of going back. Gold is another dumbest investment. Buying for parents, buy in smaller area , enough for them and don't buy that to show off.
Good Video Mr. Bhat, easy for a layman like me to understand and get a fair Idea on how and where one can invest. Thank you for the video. I believe that, as you said, and per the current trend the rupee will depreciate further slowly but surely.
An NRI aged 60 is in confusion to live retirement life in US or in India 80% chance are there that he will go to india and live his retirement life So your this clarification is very much useful to him to decide on his savings Thank you very much sir I will send him this video and have his blessings to you always 🙏
@@beamerUSA in whole, europe nation, aus, canada have same system filthy tax, insurance, medicare and get nothing and remain poor forever...NRI cant go back its stuck in golden cage
I have been in uae for last 30years. I have seen the dollar is always worth. In unfortunate time rupees give you very less value & more headache. So my advice will be always dollar.
Keep in dollars. In last six years Rupee came from 58 Rupees to 75 Rupees per dollar ! This reach Century with in the next three years. It will reach 200 Rupees to a Dollar if the crude oil price reach the level of 2014 !
Great Explanation. Thanks a lot Mar Chandrasekhar. But with the changing world order, anticipated recession in US, outperformance of Indian markets and emergence of strength into another currencies, the Dollar/ Rupees might change. I guess, your suggestion of hedging USD and INR against each other may be better deal for all the needs . Thanks a lot once again.
Can you please answer this questions , I don't know the India income tax laws for NRI , they never be favor of any citizen As citizen of another country ( SAY US or UK ) we get pension from GOVT after certain age. GOVT will credit our pension amount into local account of that country ( we can still maintain a min balance and few good rules of that country ). This amount is taxable in that country. Also we can invest in our retirement accounts (before tax and after tax). Anything we gan interst on before tax retirement amount are taxable , but nothing is taxable on after tax investments My questions are 1. if respective country deposit the amount in that country if we transfer the money from that bank to our local bank in India ( can be NRE account or non indian account) - Do we have to pay taxes ? this is taxabl at the rate of 15 percent as this amount don't exceed more than 35,000 dollars 2. what if govt directly credit in indian account after converting into rupees - is this amount taxes. what will be tax rate. 3. Same thing with retirement or any other govt subsidy amounts - this category will be taxed as 20 -30 percent bracket
If you become a resident of India, your worldwide income becomes taxable in India at local tax slab rates. Again, DTAA between two countries dictates how one gets taxed for and how much concessions are allowed. Hence get your C.A involved who is familiar with dtaa & fema rules in India.
Good video Mr Bhat. I was wondering how this will pan out when my savings are in SGD as Singapore currency is supposed to be based on a basket of currency which includes Euro, RMB, GBP besides the USD? I noted this video is 2 years old. The SGD- INR has moved from 45 to 62 in that period wiping out all my Indian FD interest in INR and also some principle capital
very well explained, however, since Australian banks offering low interest on FDs, what if I remit Australian dollars to Indian NRE account and create FD as currently the interest rates are 7+% from some banks, and later on maturity i repatriate that money to Australia. I understand the Rupee to AUD conversion rate and foreign income tax will negatively affect the yield. Still I would like to know in your opinion how does this sound? Thanks in advance
Current FCNR/RFC deposit interest rates are just 0.01%-0.5%. INR FD rates are about 5-5.75%. Even then I feel, it's worth to keep long term savings in USD even after paying tax on the interest earnings just because USD rate appreciation is not seen as capital gains for tax purposes. Am i right?
Hi thank u very much I was looking answer for this matter no one able to answer clearly as u explain... I am from srilanka right now we are facing high inflation
Very Nice and crisp explanations. To add some points, even when US inflation exceeds that of India, RBI always has a policy to manipulate to make the rupee weak because they can keep selling INR and buy USD while they cannot do the other way around. So INR appreciation is almost not allowed except for a brief period until RBI intervenes. Secondly, once you start investing in India Income tax guys will start haunting you like a criminal asking questions on 6 to 7 year old investments multiple times and take all your time attending their summons and paying to auditors. From my experience it is better to invest outside India and keep limited investments in India to live a peaceful and respectful retirement life preferably as NRI. Even real estate investment returns for the past 10 years is insignificant considering the rupee depreciation, low rental rates compared to other countries though this is for a specific period.
Most underrated comment. What you say is 100% true
Crisp summarized!👌
Very well said!
recently Indian IT asked me how much interest rate I got on some FDs six years ago
I was looking for this answer everywhere and nobody was able to explain this as clearly as you . Kudos to you for this financial education series
Thank you so much for your kind words. Please subscribe and keep sharing the videos
If it's clear than tell what should do if person wants to retire in india .. on intrest it's 30% tax
@@NRIMoneyClinic After keeping it in USD in Indian bank , could I take it as RS easily whenever I need?
@@NRIMoneyClinic can we take the money and use in India if we need from FCNR account ?
Good detailed info on this question. Every NRI struggles with this. I have been lucky to keep all cash in USD.
Indian Ruppee has as a trend always declined over last three decades, Gr8 Advice sir.. Please keep up the good work.
Video starts at 14:16 and ends at 15:30
thank u so much
To your question about inflation and Indian rupees position in the coming six months. ,
Dollar will strengthen and rupee will loose , again my speculation is rupee will position around $1 = Rs 74 , 75. Thanks
You are doing a great job for NRIs Sir
I have seen dollar for Rs 5,50 and , I see now a dollar going for 73/74 INR. The trend was never in favor of Rs, nor it is now. Guy talks about if the inflation in India goes to two percent, and US inflation climbing to 6%, I will say that is a most unlikely scenerio. Only for two years ( 1979 and 1980) US inflation touched double digit, and for last few years inflation is below one pecent, and average US inflation has been less than 2% in last 50 years. India on the other hand always average 6 to 7% inflation and peak 27% this year due to the pandemic. So friends, I will never bet on Rs, for me dollar is the safest investment. It's your money, you can decide for yourself.
Very good advice about keeping dollars or covert to INR. Thank you.
Gold seems better than any currency.
No hype, Just the right advice. Perfect!
Excellent presentation for NRIs. Very clear. All aspects considered. Thank you
You are most welcome. Please subscribe and keep sharing the videos
Fantastic,Comprehensive hitting the nail on its head.
To add one more, if you are US resident and keep FD etc in India, you are liable to pay taxes to Federal & stage govt (which you pay in dollars each year), so in long run, as rupee depreciates your savings value decrease, as you end up paying more taxes in dollars and loose value.
Another thing, people think investing real estate in India is good option, but what I have seen, the dollar value of the real estate change is almost negligible, e.g. a 2B flat in 2015 in Bangalore cost 40L, today its value is 55L, but the dollar value for both these is 67k usd. so essentially you did not make any money, but paid for property taxes, interest on emis, and when you go for selling these you end up paying more taxes, as that is capital gains in INR. Even if you think earning additional income by renting your real estate, its not that easy and not everyone can manage it remotely.
You are really a fountain of knowledge...
Thank you for the free knowledge.
I can't thank you enough for providing me with this answer. Sounds simple enough to factor in the inflation rate when looking at interest rates of India and here in Canada. I was thinking of deposting money in India thinking of making more due to the interest here which is around max 1.25% to India which was giving me 6% average. Thank you for this video.
Plllllllllllllllllllllllllllllllllllllllllll0
Dear Mr. Bhat, Thank you for your videos. The problem NRIs face with keeping money in NRE accounts is repatriation of money from the NRE account to their foreign currency account. I am in Australia and struggle to get the money/ interest accumulated in the NRE account back to my Australian bank account at a good exchange rate. Banks are the worst in shaving large sum of the the profit in to-fro movements and there are not many organizations which offer this service. Please advise/ make a video on better repatriation options other than banks if you know of. Thanks again, subscribed!
Dear Ankur Bhat, Yes a problem exist in this sphere . Not many money exchanges are there in India . You Can try Thomas Cook branch to remit back which may give you better rate. Don't transfer small amounts of money as fixed charges from banks will eat up your amounts. You can also consider FCNR deposits in Australian dollars if that helps. You may also consider opening a singapore account with ICICI bank or any other private Indian banks . If you have a specific query send it on my whatsapp 00971 50 1484595. Please subscribe and keep sharing videos.
Thanks a lot for the info. Very useful.
Currency involves two things, exchange rate and interest rate. These are supposed to offset each other. However, if you use BlockFi, and keep your money in usd coins you can earn 8% interest rate, this getting the advantage of both exchange rate and interest rate. Unfortunately blockfi is not available in New York State yet.
What is blockfi?
@@truthsayer5824 a crypto bank where you deposit crypto and collect interest in crypto. you can also use stable coins like USDC which are equivalent to usd. But recently I here Celsius is better than BlockFi.
Thank you very much. Very clear video. For the first time I’m understanding the role of inflation in deciding on parking money
You talk about how holding dollars vs rupees doesn’t matter as it will be a wash. My question is won’t there be a difference in return owing to how interest is taxed in India vs the US?
Good analysis !! The speaker, has clear vision and clarity. I subscribed for this portal.
Regarding INR, in coming 1 year, it will appreciate verses US $. Or at least stay at par, as at present.
Amazing information ,too good, I was searching for perfect answer and here I am
thank you. Very informative. You made very clear. It is just like it is effecting you personally. Thanks!!!
Very nice and clear explanation sir ..
Excellent presentation with clarity
I think inflation will be up in india and govt is privatizing psu and bank. There will be devaluation of rupee. Hence its better to keep in dollars for nri
Thank you so much for your views. Please subscribe and keep sharing the videos
Very nice. In next 6 months doller will appriciate & can touch 85 INR per doller
perfect channel for NRE peoples , half of the CA don't know about NRE account and rules . Thank you sir
Thank you so much for your kind words. Please subscribe and keep sharing the videos
First time I hear your video very useful for me
The best and most logical explanation so for I watched!!
Thank you for this information. I have lived in the USA for nearly 30 years and yet to find a bank that pays 2% savings interest. It does not exist.
2% is still gud.
In aus its .30
Rates were 4% all throughout the 90s. Till 2009 the interest rates were around 2%. Last decade however the rates have been under 1%
He is talking about keeping money in India in USD.
Thank you sir. you are the best financial advisor of all time
Over a period of next 6 months in my opinion IR shall gain strength due to good prospects of large amt of FDI inflow. What is your take on this
Amazing clarity! Many thanks, more Power to you!
Thank you so much for your kind words. Please subscribe and keep sharing the videos
Explained very clearly thank you
I am living in Switzerland i keep small money in India just for travel.
Exactly you said for our children's studies we have to keep Swiss francs we can't pay with Indian rupees.
@@maverick7323 yes bro
Never invest in India on lands or homes until you went back and lived there for years. Your interest/dividends from those investments in US stock market ( UK or Australia ) will pay for a nice rental place. While your investments will grow in leaps and bounds in stock market and with the conversion rate, you will be much happier. Don't listen to the stories which are like lottery winners.
Thank you for your views. Please subscribe and keep sharing the videos
India is inflated economy. If you keep in INR it will be very quickly devalued. USD is very strong because US govt is stronger than Indian govt. They never allow USD to go down in the international market. If you are affordable to hold USD, then it is always be your first choice of keeping it. Invest in proper way instead of paper currency to get the money growing. Good luck.
Thank you for your views. Please subscribe and keep sharing the videos
How did I miss this channel 🤔. Excellent
NRI MONEY CLINIC gives tremendous information for NRI'S.We can't follow all tips because we are outside.Your videos are more informative and help us to clear our doubts.Could you make a video about TAX over FCNR Account.?
Thanks for good analysis and guidance
Thank you . Please subscribe and keep sharing the videos
Hello sir, now when india has decided to deal in rupees with many countries and inflation comparisons are much in favor of India.....what's your view with present situation.
it all depends. In 2000, 1 USD=~40 rupees. if i had deposited 100K USD in NRE FD rupee account and compounded that for 20 years, it would have become ~672K USD (1 usd=40 rupee value). if i had kept that same 100k in the US with ~2% (actually since 2009 it is almost 0%), that money is worth ~180k now. So, even if 1 USD = 80 rupees today, having it india fd for 20 years is profitable. so, it all comes down to what you do with that money in india or US and how long you can retain that money. i have given that in fd for 20 years as example.
Do not agree. if you are going thru all that trouble of opening NRE account etc. etc. you can as well invest in US MUNCIPALITY BOND some are tax free and gives return of 4+% . The rupee devaluation does not help keeping money in India and paying tax on interest earned.
@@gakkadguy compare apples to apples. Now you went to muni bonds from bank CD/FD. i could have invested in bitcoin and could have been a millionaire (1000 USD invested in 2011 is now worth more than 250 million). there is no pain in moving funds between two accounts. i do it quite often. you just have to balance as nobody knows the future. keep some in usd and keep some in rupees and get returns on both ends.
@@ordinaryman1603 What if I can get *_20%_* interest on my savings account where our country's inflation is 10%pa?
Thank you sir for your advise and helping attitude .
Very nicely explained.Thank you for uploading video.
Thanks very much. Very well explained.
We are blessed to have your videos, keeping it so simple to understand!
This is a really informative video
Thank you for your kind words. Please subscribe and keep sharing
M
@@NRIMoneyClinic
....
Sir can you please make video on taxation on equities and debts on NRI investments in India and also please include about TDS deduction and reclaiming procedure..
do not put in cash in any currency...all govt around the world doing same thing print print print... currency is very very bad.
30+ years outside the country, best advice is keep it on DOLLARS until you need it very badly. DO not invest in land ( worst , its like gambling - only a very few are lucky in this ). Invest it in the stock market - even the index stocks will fare much better. Do not buy homes or buy lands or any thing. If you want to buy home, buy after 3 years of going back. Gold is another dumbest investment. Buying for parents, buy in smaller area , enough for them and don't buy that to show off.
Thank you very much for your views . Please subscribe and keep sharing the videos
Excellent program. Very informative for us NRIs
Good explanation but you didn’t mention about its income tax implications can you explain on that part
What are your thoughts on India decided to trade in Rs
to reduce dollar dominance ?
because of this govt decision Rs will appreciate against $
Good stuff. Answered a lot of questions I had.
Thank you very much for your kind words. Please share it with your friends.
very information video. Thanks!
Very well presented Dr Bhat 👌
Thanks a lot. Fully agree with your views.
Thank you very much for your kind words. Please subscribe and Share videos with your friends
Very informative. Thank you Sir for doing such videos.
Would be great if you could explain in other videos how to best invest dollars (other than fixed deposits)..
Good Video Mr. Bhat, easy for a layman like me to understand and get a fair Idea on how and where one can invest. Thank you for the video. I believe that, as you said, and per the current trend the rupee will depreciate further slowly but surely.
very nice suggestion..... thanks
Amazing explanation for a confusing topic... randomly came across the channel.... great effort sir👌
Thanks and welcome. Please subscribe and keep sharing the videos
An NRI aged 60 is in confusion to live retirement life in US or in India
80% chance are there that he will go to india and live his retirement life
So your this clarification is very much useful to him to decide on his savings
Thank you very much sir
I will send him this video and have his blessings to you always 🙏
anything other then that is retarded thinking. US you only pay tax & insurance if you do not have sizable business income.
No one go back to india after leaving kids back...
@@beamerUSA in whole, europe nation, aus, canada have same system filthy tax, insurance, medicare and get nothing and remain poor forever...NRI cant go back its stuck in golden cage
first time visitor to your channel and like it so much ..very good explanation ..thank you .. subscribed and started sharing ..
I have been in uae for last 30years. I have seen the dollar is always worth. In unfortunate time rupees give you very less value & more headache. So my advice will be always dollar.
ur an idiot if u invest in india u will get high return compared to western countries...
He is actually saying keep it in $.
then he makes sense. As I did not watch the episode. Came to check the comments straight.
Dollar is strong currency but there is no fixed deposit interest rate since 2008.
Dollar deposit doesn’t earn 2 percent sir. The interest rate in bank is .03 may be
In Middle East if you save with LIC International in USD, you can earn anything more than 4%
Very good information and decision making process. Thank you .
very mature advice!
Well explained. Excellent. 👍
Excellent explanation. Always had exact same doubts which got clarified with relatable practical example.
Glad it was helpful!
Great video. Very informative 👍
Sir, please advise , due to dedollarisation , shall I convert half of my US dollar savings to INR now for my retirement in India in next two years ?
You need professional consutation before you do that
Thanks for this video
Sir, You can show with example of $100000 at $1= Rs 74 at 8% interest for 10 years today and Dollar value increase to $1= Rs 80 in 10 years!
Thank you for your valuable suggestions. We shall keep these things in mind . Please subscribe and keep sharing the videos
Yes if it explained like this very easy to understand and remember
@@NRIMoneyClinic What if I can get *_20%_* interest on my savings account where our country's inflation is 10%pa?
Your points are absolutely right. BTW. What if we send the money to India and we invest in real estate?
Keep in dollars. In last six years Rupee came from 58 Rupees to 75 Rupees per dollar ! This reach Century with in the next three years. It will reach 200 Rupees to a Dollar if the crude oil price reach the level of 2014 !
Can u do it again against the backdrop of de-dollarisation happening now?
Great Explanation. Thanks a lot Mar Chandrasekhar. But with the changing world order, anticipated recession in US, outperformance of Indian markets and emergence of strength into another currencies, the Dollar/ Rupees might change. I guess, your suggestion of hedging USD and INR against each other may be better deal for all the needs . Thanks a lot once again.
ChandraKanth it seems :)
Thank you. I was looking advice on this question.
Can you please answer this questions , I don't know the India income tax laws for NRI , they never be favor of any citizen
As citizen of another country ( SAY US or UK ) we get pension from GOVT after certain age. GOVT will credit our pension amount into local account of that country ( we can still maintain a min balance and few good rules of that country ). This amount is taxable in that country. Also we can invest in our retirement accounts (before tax and after tax). Anything we gan interst on before tax retirement amount are taxable , but nothing is taxable on after tax investments
My questions are
1. if respective country deposit the amount in that country if we transfer the money from that bank to our local bank in India ( can be NRE account or non indian account) - Do we have to pay taxes ? this is taxabl at the rate of 15 percent as this amount don't exceed more than 35,000 dollars
2. what if govt directly credit in indian account after converting into rupees - is this amount taxes. what will be tax rate.
3. Same thing with retirement or any other govt subsidy amounts - this category will be taxed as 20 -30 percent bracket
If you become a resident of India, your worldwide income becomes taxable in India at local tax slab rates. Again, DTAA between two countries dictates how one gets taxed for and how much concessions are allowed. Hence get your C.A involved who is familiar with dtaa & fema rules in India.
Your opinion and knowledge are excellent.
Awesome content 👌👍👏 Was looking for this info due to covid-19 situation. Thanks 👍🏻
Thank you very much for your kind words
7:05 For answer to your question
Good video Mr Bhat. I was wondering how this will pan out when my savings are in SGD as Singapore currency is supposed to be based on a basket of currency which includes Euro, RMB, GBP besides the USD?
I noted this video is 2 years old. The SGD- INR has moved from 45 to 62 in that period wiping out all my Indian FD interest in INR and also some principle capital
This is I am looking first Vedic of NRI and it is very informative. I would like to see your all Video about NRI.
Thank you very much for your kind words
Such an informative video.
well explained, subscribed!
Welcome aboard!
very well explained, however, since Australian banks offering low interest on FDs, what if I remit Australian dollars to Indian NRE account and create FD as currently the interest rates are 7+% from some banks, and later on maturity i repatriate that money to Australia. I understand the Rupee to AUD conversion rate and foreign income tax will negatively affect the yield. Still I would like to know in your opinion how does this sound?
Thanks in advance
Current FCNR/RFC deposit interest rates are just 0.01%-0.5%. INR FD rates are about 5-5.75%. Even then I feel, it's worth to keep long term savings in USD even after paying tax on the interest earnings just because USD rate appreciation is not seen as capital gains for tax purposes. Am i right?
Sir can you do a video on converting invested money in India to USA like the capital gain taxes etc
Sure . Your suggestion accepted. Thanks for your feedback. Please subscribe and keep sharing the videos
great presentation .. my research also proved the same what you said..
Thank you very much for your kind words. Please subscribe and keep sharing the videos
Thank you so much Sir for this very informative video.
Very helpful. Thank you
What is the position as per today .Should one buy dollars or rupees
Hi thank u very much I was looking answer for this matter no one able to answer clearly as u explain... I am from srilanka right now we are facing high inflation
Very informative and to be followed in letter and spirit .
Glad it was helpful!. Please subscribe and keep sharing the videos