I recently only got a job is abroad. I wanted to know what are the merits of being a NRI? ?
Indian based banks, other financial institutions in India, Real estate business etc..helps NRIs in their personal financial soundness? If yes..how? Any benefits of being a NRI?? Please guide me... I don't want my hard earn money to be wasted or be just idle!!!
Asked By: x y - 10/31/2008
Best Answer - Chosen by Asker
As an NRI, you can open two different types of bank accounts - NRO and NRE. The NRO is a non-repatriable account where you can deposit your Indian Rupee earnings, if any (say from rent or consulting fees). You can also make investments from NRO but the earnings from such investments need to go back into the NRO... More
Answered By: Subhankar - 10/31/2008
Additional Answers (2)
Dear x,y (chromosomes)?? Other than stated above by Mr. Suhankar you can invest in stocks and MFs through your NRE account, you are also eligible for tax exemptions on your investments as an NRI. good luck !!!
Answered By: Joshi A - 11/1/2008
Being an NRI is a privilege so I am not sure of the 'merits' you are looking for. As others have mentioned, you get some tax benefits for funds you invest in India but even that is a myth since you would already have paid tax on it if you are living in a western country. List of Desi banks overseas attached... More
Answered By: b2bhandshake - 11/1/2008
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