NRI Corner

As per the Income Tax act 1961,a person is a Resident of India if :

  • He has stayed 182 days or more in India in the current financial year or
  • He stayed in India for 60 days or more in the previous financial year and 365 days or more in the preceding 4 years (The 4 years shall be counted from the year before the financial year which is into consideration).
  • So,if you satisfy any of the above conditions,then you become an Ordinary Resident.In case you don't satisfy them, then you shall be considered as a Non Resident Indian.

As per Foreign Exchange Management Act-

A person is a Resident of India if he stays for 183 days or more in India during the preceding financial year starting from 1st April to 31st March. But, if he does not fulfil this condition i.e. he is in India for less than 183 days, he shall be considered as a Non Resident.

Pre Requisites

  • PAN number
  • One – time KYC documents
  • Must hold NRE/NRO or FCNR Bank a/c

Investment options

Mutual Funds: Whether you want to invest fr short term, medium term or long term there is a suitable mutual fund for your investment objective.

Except for US or Canada NRI- you can invest in any mutual fund in India without any restrictions., those who are staying in the US or Canada, there are some limitations due to strict FATCA rules.

There are 8 AMCs that comply with FATCA rules and will allow you to invest even if you are staying in US or Canada.

Tax liabilities for NRI

Mutual Funds & Direct Equity:
NRIs are eligible to invest directly in Indian equities under the Portfolio Investment Scheme (PIS) of RBI.

Real Estate:
NRIs can purchase both residential and commercial properties. However, you cannot buy agricultural lands, farm houses or plantations. However, this rule doesn't apply if you get ownership of agricultural land through inheritance or as a gift.

Government Securities:
For medium to long term investments, you should look at dated government securities. The interest on these securities can either be fixed or floating.

Types of dated government securities:

  • Fixed rate government bonds
  • Floating rate government bonds
  • Capital Index bonds
  • National Saving certificates

NRIs are not allowed to invest in National Saving Certificates

Bonds & Non convertible debentures:
Public and private companies issues securities to raise capital. You can consider investing in PSU Bonds, Non convertible debentures & Perpetual bonds

Portfolio Login

Forgot Password

What’s New

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but