NRI Money Clinic is a RU-vid channel created by Dr. Chandrakantha Bhat and Tejas Bhat. "NRI Money Clinic" is a highly informative and engaging RU-vid channel dedicated to providing valuable financial advice and guidance specifically tailored for Non-Residential Indians (NRIs).
The channel aims to address the unique challenges faced by NRIs when it comes to managing and optimising their financial resources. Through a variety of well-crafted and insightful videos, "NRI Money Clinic" offers a comprehensive range of topics covering various aspects of personal finance, investment strategies, tax planning, real estate, banking, and more.
The content is designed to empower NRIs with the necessary knowledge and tools to make informed decisions about their finances, enabling them to achieve their long-term financial goals. Led by a team of seasoned financial experts, the channel ensures that the information shared is accurate, up-to-date, and relevant to the specific needs of NRIs.
US Citizen having OCI and NRO ac in India ,while receiving closure proceed of S/A or FD as nominee upon death of her /his parents of India national. CGT shall be applicable ?
I AM NRI .CAN I TAKE INSURANCE PREMIUM DEDUCTED BY QUEBEC CANADA GOVERNMENT AS DEDUCTION UNDER SEC 80D FROM MY INCOME IN INDIA .WHILE FILING MY INDIA TAX RETURN .PLEASE REPLY .
Thanks Mr Bhat and Arun for the detailed information. Can a returning NRI continue to hold the overseas bank account and the foreign brokerage accounts ? How long can hold? Is there any disclosure requirement to RBI or IT department?
Thanks Mr Sriram for the valuable information. Also we thank NRI Money clinic for service to NRI community. On returning back to India for good, can NRI continue to hold the overseas bank account and overseas brokerage accounts which holds overseas securities? How long can maintain the same? Is there any disclosure requirements to RBI or IT department ? Thanks
Hi, Thanks for the informative video. Please make a video on eRUPI and its benefits in making international payments online from India to other countries.
In my case I received money in my NRO Account from parents. Now I want to transfer it to NRE and have been told that if I do a FD for 2 years in NRO account and then I can transfer it without charges or Taxes. Surely as I understand that taxes will be deducted for the FD. Is this correct? One more question I have how much is the tax that will be deducted if i follow all steps mentioned in your video and shift money from nro to nre. I am a foreign citizen and pay my taxes here and not in India.
On a brighter note, every recession comes with an equal chance in the fin-mrkt if you're early informed and equipped, I've read folks amass up to 7 figures during these times, and even pull it off easily in a favorable economy. Truthfully, I’d need guide please for a boomer like me to attain such amount for retirement, we definitely need to benefit from this situation somehow.
stocks are pretty volatile now, but if you do the right math, you should be just fine, where as you can save yourself the hassle as well time by seeking professional guidance
I agree, investing is straightforward with strong conviction. During the 2020 lockdown, I got laid off and sought out a remarkable advisor. Today, my $500k reserve has grown to a comfortable seven figures, which we now plan to reallocate into gold, recalling the 1929 crash.
I see no other way to maneuver steady profit and steer off losses in this current market except by advisory management, mind if I look up the person guiding you please? I'm in dire need of portfolio reallocation ?
I see no other way to maneuver steady profit and steer off losses in this current market except by advisory management, mind if I look up the person guiding you please? I'm in dire need of portfolio reallocation ?
Dividend investing is most effective when approached with a long-term perspective. While dividends can provide immediate income, the true power lies in the compounding effect over many years. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas.
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
Dr Bhat you have been doing great job in educating NRIs or Residents on money matters. I have sent number of your videos. It is remarkable. I don't see any one else doing this in India. My hearty appreciation to you for this invaluable service. I need one clarification probably missed to catch in your videos. My daughter is an NRI I need to transfer some if my property to her. If she later disposed that van she repatriate the money to US?
Folks this is a classic example of theoretical knowledge vs practical knowledge. On paper India can be made to look like an exciting place to invest, but ALL of us(specially NRIs) know the truth in our bones that India is a black hole of corruption that you should stay light years away from. Isn't that exactly the reason why we chose to "escape" from India in the first place ?
I am an NRI, My only income in the foreign country is my salary. I hold NRE/ NRO account in India. I get some interest out of amount I have in it. How do i file the tax returns? Only for the interest I get from the savings in NRO account or do I have to declare my salary also in the returns?
This is such a valuable session, Dr. Bhat. More like axioms of investing - An immense value to all. You are running so many great sessions. It would be nice if you could plan for two sessions - 1.) when to sell your investment assets and 2) Choosing your health insurance. Thank you once again for a great session.
Sir how can one send money directly to the FCNR account as what I understand in gulf they moment we send money it is deposited to the NRE accounts as INR .. if we open an FCNR USD account and we send money form GULF will it be Converted to >INR > thEN TO usd Won’t we loose some money in coversion This part no one is explaining … when I went to the bank with USD cash they refused to accept to open the account they said they will first convert it to INR THEN deposit it to the NRO account then buy the USD then deposit to FCNR … that’s such a hassle ( federal bank )
Sir how can one send money directly to the FCNR account as what I understand in gulf they moment we send money it is deposited to the NRE accounts as INR .. if we open an FCNR USD account and we send money form GULF will it be Converted to >INR > thEN TO usd Won’t we loose some money in coversion
Even I am not bad at executing the investment plan, I can improve further, many a times we see a big amount lie in savings account without being invested!
Terrific, very informative as always! Typically I have seen the last generation( not willing to change) a few seniors in my family, they never bought a mobile phone, even though very inexpensive mobile was available and others use to worry about them when they go out! so Yes! you must be ready to change with time
