Is mutual fund tax free for NRI?
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Is mutual fund tax free for NRI?
Taxation rules for NRIs and residents of India are alike. For equity mutual funds, the investments made for 1 year or less will be taxed at 15\% as per the short-term capital gains taxation rules. For long-term investments, the mutual funds are taxed at a rate of 10\% as per the long-term capital gains taxation rules.
Can NRIs buy Indian government bonds?
Reserve Bank of India has enabled NRIs to invest in Government of India bonds-G-sec. They are long-term securities. The tenure range for such bonds is from 5 to 40 years. Based on the tenure, these bonds provide yields between 6.18\% and 7.72\%.
Is it mandatory for NRI to file income tax return?
Am I required to file my income tax return in India? NRI or not, any individual whose income exceeds Rs 2,50,000 is required to file an income tax return in India.
What is the TDS rate for NRI?
NRI TDS|TDS on Non-Residents of India |What is Section 195 of Income Tax | YES BANK
| Type of Income | TDS Rates (\%) |
|---|---|
| Profits the NRI obtained from long-term capital gains under Section 115E | 10\% |
| Long-term capital gains | 10\% |
| Short term capital gains under section 111A | 15\% |
| Any other income an NRI derived from long-term capital gains | 20\% |
Can NRI can open PPF account?
Can NRI have PPF Account in India? Yes, an NRI can have a PPF account in India. However, the PPF account must have been opened while the person was still a resident of India. An NRI can only have a PPF account if they opened it as an Indian resident and prior to becoming an NRI.
How much NRI can invest in India?
As per RBI regulations, NRIs can invest in only up to 10\% of the paid-up capital of an Indian company. An NRI is also barred from investing in some stocks and sectors, as per an RBI mandate.