Tax Saving Funds and Certifications for NRIs

If you are an NRI wanting to earn income in India, you must open an NRE, FCNR or NRO accounts. These accounts will help you even in case of applying for NRI loans. You can enjoy tax exemptions on FCNR account as it is held on a repatriable basis with zero tax liability and high returns on interest rate. Enjoy tax exemptions, enroll for a pension plan, tax saving fund, insurance policies, Fixed Certificates, loans etc.

All income earned in India is repatriable now. Be it rental income, interest earned on savings account or fixed deposit, profits on shares, debentures and mutual funds are transferred abroad. Boost your financial health by investing in debentures, mutual funds and PSEs. RBI has made possible investment in India while you stay abroad. You can continue to earn your income and make profits in India being an NRI. You are allowed to invest in Indian mutual funds, shares, debentures and other certificates, except for a few certification which is not open to a non resident Indian.

Good news is that, you can save your income from being deducted in the form of tax. In order to enjoy tax free income, invest in insurance policies, pension plan, certificate of deposits and tax saving fund. Protect your family while you enjoy tax benefits simultaneously. If you are planning to invest in shares then you must have an online trading account too. Besides this, Non resident external account and Foreign currency non resident account should also be held to carry out financial transactions in five different currencies. You can freely have your financial transactions in US dollar, Deutsche Mark, Pound Sterling, Euro and Japanese Yen.

Except for Kisan Vikas Patra and other national savings certification, you can invest in all major certificate deposit schemes, company deposits, bank deposits and tax saver funds. Enjoy zero tax liability on your FCNR account and NRE account.

Vijay K Shetty

NRI Loan Interest.

NRI Insurance Policies.

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