Can a non-resident Indian (NRI) from Dubai transfer his income to his wife’s Indian account and can she invest this amount in mutual funds? —Name withheld on request It is perfectly legal to send money to your wife in India but the nature of transfer from your account to that of your wife needs to …
To be sure, India has signed DTAAs with multiple countries, but not all of them have the same two conditions mentioned above. Typically, If an investor were to put in ₹10,000 every month in an equity mutual fund (MF) for 20 years, they would get around ₹1 crore assuming an annual growth rate of 12%. …
In the first part, we looked into how to check your unclaimed deposits and investments, documents and the steps you need to take to make a claim. You can read it here: In this final instalment on unclaimed investments, we delve deep into the crucial aspects of technology’s role, fee structures, and the pivotal function …
India has the world’s largest overseas diaspora, with 32 million Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), as per a ministry of external affairs report. NRI investments in India primarily consist of fixed deposits. Direct equity and mutual funds get only 9% of NRI investments, contrary to common belief. Among countries, the US, …
NPS scheme for NRIs: Non-resident Indians (NRIs) aged 18 to 60 can invest in India’s National Pension Scheme (NPS) by adhering to KYC norms. The NRIs can make contributions to NPS from their NRO/NRE account. NPS offers diversification across financial securities and asset classes (Equity, Corporate Bonds, Government Securities). NRIs can choose their investment mix …