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Repatriation Scheme For NRIs - 1 Million Dollar Scheme - By CA Sriram

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Опубликовано:

21 авг 2024

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Комментарии : 406

@Raj-Sahu157 2 года назад

Both gentlemen are providing a wealth of knowledge here. The interviewer is intelligently asking questions to the guest and then summarizing his answers very wisely. Overall a brilliant video for all NRIs like me who have some asset in India and wish to repatriate them abroad. Than you very much gentlemen for the video 🙏

@NRIMoneyClinic 2 года назад

Thank you very much for your kind words . Keep warching

@cliniamit99 2 года назад

Onw question if you are inherited money from parents including sale of stocks,mutual funds is this scheme applicable?

@satviklifestyle Год назад

Same. Very brilliant interview and answers @ CA Sir, money is originally transferred from US bought property for Parents in mom name. How to repatriate money to US after sale?

@arthasastr 8 месяцев назад

@@NRIMoneyClinic If I get a gift amount of Rs.4Cr from my uncle and would like to transfer the whole amount to my US Bank. Can I gift 2Cr to my wife’s NRO account in the same year and we both transfer our money to individual NRO accounts, and each stay under $250K LRS limit and remit the entire amount to our US bank account held jointly ? Will this be acceptable under FEMA and remain within RBI guidelines? Please advise.

@ltsananse Год назад

Dr Bhat is one of the best interviewers I have seen. Simply great 👍

@rejendralic8388 Год назад

Both deserve rich compliments for the excellent information & briefing on repatriation subject in a crystal clear manner. Thank you sirs

@avijoshi7696 Год назад

Dr Bhat thanks for presenting eminent taxation specialist professionals and adding to their interpretation. Much appreciated.

@paneerselvam1696 2 года назад

Beautiful subject and quite interesting and informative. Thanks to you both for sharing this knowledge.

@venkatkompella5139 Год назад

Very clearly explained. Both of you did a very good job. I see the threshold for not requiring 15CB is still 5 lakh rupees. I wish they increase it, especially now that the USD has gone up so much against the INR. 5 lakh rupees is just approximately $6000.

@jbliss12345678 2 года назад

This was a very informative video. Kindly shed some light on the fees associated with repatriation as the usual method of repatriation through bank (where the account is held) is very costly in terms of high fees and unfavorable exchange rates. Is there an alternative method that could save NRIs some cost on repatriation?

@saiprasadpvk4479 2 года назад

) LLP

@abejohnjohn65 Месяц назад

NRI withdrawal using their SBI debit cards from their income that is deposited in his Indian bank. As of today I continue to withdraw every month and TCS is debited to my bank a/c along with ATM fee and bank exchange rates

@inderjitsingh2840 2 месяца назад

Excellent interview. thanks to Dr. Bhat and CA Sriram for giving pertinent information. Great questions and detailed relevant answers. Very useful video for NRIs. Must watch.

@kaustubhdutta1573 4 месяца назад

This is a fantastic video as the follow up questions by the interviewer are very appropriately asked thereby providing a summary at every section. This will help every NRI seeing this video.

@carolinedsilva3981 10 месяцев назад

excellent information...to help NRI,s.....thank yiu

@aireddy 11 месяцев назад

This session is very informative, it clarifies lot of questions for NRE’s how they can repatriate their assets got by inheritance.

@srinikoganti Год назад

Very clear Video. Thank you. No-Nonsense straightforward discussion. Good interviewer and Great Guest.

@georgepninan 2 года назад

You can also transfer fund to your NRE account Under the same procedure and later transfer in foreign exchange at your chosen time.

@krishnaramachandran7722 9 дней назад

You can't do that. This scheme is separate from NRE and FCNR deposits which are by definition repatriable without any limits.

@pralhadsangamkar6043 2 года назад

Excellent post with quality inputs for the benefit of your NRI followers.

@NRIMoneyClinic 2 года назад

Thank you very much for your kind words

@Nuron666 Год назад

Hello friend, Can you tell me how to apply this (1 million dollar scheme)?

@shrutigupta3153 2 года назад

Pls enable CC in your videos so that Senior Citizens finds it easier to understand

@Gandhikrishna79 7 месяцев назад

The are speaking English, do you still require CC 😂

@sivaselvigunasekaran9499 2 года назад

This video cleared lot of my doubts and misinformations. I am thankful to you all for providing valuble information, taking time and effort to compile all these well orchestrated useful videos amidst your busy schedules. Not only that, what is very admirable is the fact that you, Mr. Sriram especialy, go through the comments and answer the relevant questions raised by your "dear veiwers". You tube is enriched by you!

@iloveamericagodbless6512 2 года назад

But when that money is received by an American bank, it is considered as income and income taxes at that applicable bracket is levied on that money for that year. And if you are living in Ca or NY or England, 65% goes to the government as taxes.

@sailendrapamidi Год назад

Thank you Mr. Bhat and Mr. SriRam. I find your videos extremely useful and informative. Great content like always ...

@RashmiChoudhary765 5 месяцев назад

These are so useful video series. Thanks for creating these. Answering so many of my questions.

@manaoharsam4211 2 года назад

Both are doing a great job explaining.

@surinderkapoor1380 6 месяцев назад

you both are great and give clear guidance to the viewers. well done.

@narendramohile7360 Год назад

Thanks both of you for quite interesting and informative subject i enjoyed the subject and solve my problems. Thank you very much once again.🎉

@narendramohile7360 Год назад

Thank you very much Sir.

@bhadadaop 8 месяцев назад

Dr. Bhat you have been doing a great job and the expert is possessing good knowledge on the subject. My only request to you to please allow him to speak more rather than you except the asking of questions but no repetitions from you end. Hope, you shall not take otherwise. Thanks.

@sgketan 2 года назад

As usual very good info. Great video and very well explained.

@adpaliwal 2 года назад

It is always a nice setting in which you both speak things in details and with clarity. Thanks

@dhruvmunshi2783 Год назад

Thanks for detailed information on repatriation of funds by OCI card holder from India to overseas bank account held by the same OCI card holder. Next question is that if an NRI is running a business in India and earning money out of it. Is it possible to repatriate the funds from the earnings of the business?????

@Ducktility 2 года назад

Your channel is a gold-mine of knowledge. Saves me a lot of time in my financial planning. Thank you!

@kitturajan 2 года назад

Really informative video. Thank you for creating. It cleared most of my doubts about repatriation from India to outside.

@samueljella7218 4 дня назад

Information was excellent.thank you

@sumitdesai9265 3 месяца назад

Really great video, and presented in really informative manner. Covered many aspects and guided with examples like what is condition, what is limit, what is covered under this scheme and what is not. Thank you so much for this kind of great vidoe where everythingis explained simply yet in detail.

@AlokKumar-tt9oq 2 года назад

Excellent video and detailed information...well done both of you 👌 thanks 😊

@shirinmalik2235 Год назад

This is exactly what I needed to clear up

@meyyappansubramanian7078 Год назад

Very useful information. I'm in Paris. Merci beaucoup monsieur.

@Helloannette Год назад

Thanku Sirs for explaining so clearly. Many of my questions are answered 🙏🏻👍👍

@safusp 2 года назад

Very informative video, many thanks Dr. Chandrakanth and Sriram👍

@valerianpereira1259 5 месяцев назад

This is the best Video: With regards to Money : very informative Must Knowledge. Please: Work on these kinds of : Programs for NRI; Money/Funds/Banking; -Regards to property matters; - Tax -Insurance etc. -Medical/Health etc. Thank you.🙏

@NRIMoneyClinic 5 месяцев назад

Sure , we will work on these lines

@allaremyfriends67 2 года назад

Please bring a video on Wire Transfer and how it could be done from GCC countries. Which currencies can be transferred and your recommendation on the currency. How long the foreign currencies Transfered via wire can be kept in NRE Account and when to make FCNR deposit. Also talk about Nostro account, FCNR deposit. Please advise on whether the foreign currencies to be booked for Term Deposit or to go for FCNR B forward contract. Why do bank prefers NRI to send USD to their bank directly from overseas account? Thanks

@shanmugamkandasamy4386 2 года назад

Very clear and clarifies all doubts.

@binduvarmav Год назад

Thank you sir. Great video explaining all the details of fund transfer for NRIs

@rajindertangri5918 Год назад

Very lucid. Informative. Dr Bhatt’s further interpretation is very helpful. Thank you so much both of you, learned professionals. …Dr Tangri

@drvinaybhaskar3320 2 месяца назад

1. If parents wish to gift money to their independent adult NRI children , can they gift to children to their NRO account and then the NRI kids can use one million dollar scheme to transfer this gift . 2. If adult single NRI child inherits a house or FDs from parents, how can they ( children ) transfer funds to their country of stay as NRI ?

@Saurabh_27Dec 2 года назад

This is the exact information which I required. Thank you so much!

@Nuron666 Год назад

Hello friend, Can you tell me how to apply this (1 million dollar scheme)?

@NRIMoneyClinic Год назад

There is a specific video on 1 million dollar scheme on this channel. Please watch and be guided

@vairam318 2 года назад

Very informative and educational. Excellent video

@susangeethageorge1279 2 года назад

Very informative,Thank you for choosing this subject

@vinnykrish9579 2 года назад

1. How much money can an NRI repatriate out of India? An NRI can freely transfer without any upper transaction limit from NRE and FCNR accounts. On the other hand, an NRI can remit only up to 1 USD million out of the balances of an NRO account, provided they meet the eligibility criteria.

@kris13113 2 года назад

Is this limit imposed by the bank or whom? (From NRO to NRE)

@pradip1966 2 года назад

Excellent video very useful. Please continue with these kind of videos.

@adityasurender1 2 года назад

Dear Mr.Bhat and Mr.Sriram, Thanks for spreading the knowledge on rules and regulations applicable for NRI. Do have one question. For transferring money from India to Outside India, from which account should be transferred i.e. NRI/NRE/NRO or which type account. It is not allowed to deposit money to NRI account in India. So which type of account should be used by NRI? Thanks in advance. Rgds Surender

@sriramrao2514 2 года назад

Please watch this video fully as well another video on NRO-NRE account which is available in this channel… you will get the information as required

@kris13113 2 года назад

There is no such account called NRI

@snabeelaify Год назад

@@sriramrao2514 Sir, please send link for nro nre account video. Thank you

@raghavendrab1925 2 года назад

Good explanation. Well done 👍. However, information is incomplete. A person from agriculture family, can buy agriculture land being an NRI. There are several laws which are clashing between themselves when it comes to agricultural land. Everything can’t be fulfilled. In my opinion, you start to unfold land acquisition act and 70B etc ( which doesn’t exist now) then club it together with it would be good. Normal flat, comercial property etc can be sold And easily transferred. It becomes complicated when it has to do with agriculture land. Thanks for the update

@sriramrao2514 2 года назад

Normally, in law, there is a concept of specific overruling general law... I was not talking from the point of view of land acquisition act at all... There are specific regulation under FEMA in which it is specifically laid down that a NRI/OCI/Foreign National can not purchase agricultural & plantation property. Yes, as on date, land acquisition act allows almost anybody to purchase agricultural land in India, however, FEMA being a specific law which lays down regulations prohibiting a NRI from purchase of agricultural and planation property, it would definitely override general law (i.e. land acquisition act). You can refer to RBI master direction 12 on this issue which lays down clear law of land in India.

@sriramrao2514 2 года назад

It is for sure that FEMA prohibits a NRI/OCI from acquisition of agricultural land and plantation property by way of purchase or gift. There is no exception to this rule under FEMA even for an NRI who is from agricultural family. However, a NRI/OCI can acquire agricultural land by way of inheritance and FEMA allows the same.

@2dabang Год назад

Thank you Mr. Sriram. Very informational.

@kayjay6375 2 года назад

I am a NRI and hold OCI , my question is I have a flats in India and I want to sell this flats and want to transfer money to USA , how much bank charges ( any fees from bank ) I have a NRE and NRO both accounts in India since last 15 years

@sriramrao2514 2 года назад

This you need to ask your banker, coz bank charges would vary from bank to bank

@sudhirtks2823 2 года назад

Tax implications after the transfer? Source country or destination country or both?

@sc7783 16 дней назад

Can you make another video on repatriation of money for OCIs who are Indian residents? For a child's education abroad etc. Thanks!!😊

@amritanaiduravi6067 11 дней назад

Can you make video on this? I also need this.

@simb5428 2 года назад

Thanks Sir for informative guidance , can you kindly suggest us the single point contact to approach, so that we can save our time for all our remittance for NRIs

@garry57700 Год назад

Excellent information. Thank you very much

@ikidambi 2 года назад

Fantastic video. So informative. Thank you!

@jairajputana 2 года назад

This has been my biggest worry, especially being 2nd generation nri, I had heard of this but wasn't sure, thanks for bringing it up

@bhaskarbabubidarkere7267 2 года назад

very nice presentation sir, very much in detail.... i have few doubts..for stocks and mf investments is it NRO non PIS account is enough..? and the source of income for NRO account can be NRE or directly from the foreign country....? or it has to be from India

@surendrabarsode8959 2 года назад

Dr. Bhatt is requested to have a separate program on form 15CA/15CB, as these forms cause a lot of issues and CAs charge huge amounts for this. Further, can CA Sriram suggest which are ADs who are well versed in this process, as all banks are not knowing the scheme fully well and cause lot of problems while remitting.

@sriramrao2514 2 года назад

Normally there would be designated branches in each bank who deal with forex and they would normally be aware this process. Further, the availability of services would also depends on personnel in the bank.

@user-wb2vr2dp5l 4 месяца назад

Excellent presentation

@krishnanv9778 2 года назад

I find in RBI site that the liberalised remittance scheme is only for Residents.--Quote RBI-"Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April - March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only." Please clarify whether NRI/OCI can avail this facility-Thanks

@NRIMoneyClinic 2 года назад

There is another video on this channel for LRS scheme . Please be guided

@pathkris2984 2 года назад

It appears that LRS is only applicable to resident Indians. It is not applicable to NRI/OCIs.

@saurabhgupta9430 Год назад

Ver informative and well-made video. For US remittance, after we have already paid taxes on Indian Funds, and when I repatriate funds to a US bank account, do you know if the US also applies taxes on the money that just landed in my account? What are the US-India taxation laws on this transfer?

@binducoumar3939 7 дней назад

Very informative

@satyam.shivam.sundaram 2 года назад

Excellent discussion

@kvsnam Год назад

This is an excellent video with tons of new knowledge. But I have a doubt. If an NRI has assets in the form of gold, say 50 sovereigns of ornaments, will this also qualify for transer to his home abroad as per this "1 Million transfer" rule?

@parmeshwark1049 Год назад

Thanks for the excellent show .

@burkhan123 2 месяца назад

The NRI need to file tax in residence country, why again in India? Please explain about DOUBLE TAXATION AVOIDANCE “

@vachaspathiakkiraju548 14 дней назад

Useful information

@luisfernandes964 Год назад

Sir. Please give some clarification in this: There are many people who are holding foreign passport with foreign citizenship but holding OCI. These Indians after their foreign assignments return to India. Please throw light how their NRE account will be treated and also from point of view of income tax ,after return to India.

@atozfun4178 2 года назад

Hallo sir, I am an NRI and I have a question..How much money as cash can we bring with us when we go to India for vacation.and how much can we bring back as cash..thanks

@samcreedy44 2 года назад

@@Admin-cj2qy Scam account. Beware.

@sanjayb2246 2 года назад

Mr Sriram, It’s not clear about the Gift property. It sounded in the video like gifts received by an NRI. I hope answering these questions would help many of your followers too. If an agricultural land was acquired by me as a gift from a relative 25 years ago while I was still in India (before moving to US), I’m a GC holder in USA now, is that property covered under 1 Million Dollar Scheme? The land is on my name. What taxes/fees will be incurred for this? If the value of the property is over 1 million, in which account should I keep the remaining amount after transferring 1 million? Is it NRO account? Is it possible to repatriate to USA 1M USD in March and another 1M USD in April of the same calendar year (different financial year)? Is it better to sell the property and the repatriate the proceeds to USA while I’m on GC or wait until I become a citizen of USA? Which way would be easier and beneficial with higher transfer amounts and lesser fees/taxes? Thank you!

@sriramrao2514 2 года назад

These are all personalized questions for which one should consult an expert... Anyway, as far as acquisition/sale of agricultural land is concerned, there is already a video on this channel 'NRIs buying Agricultural Land'... watch that video and be guided... further for taxation purpose, it does not matter whether you are GC or OCI rules are same... there are several video's in this channel on tax status 'who is NRI' and 'RNOR' etc.. watch them and be guided...

@kobe3fann24 2 года назад

I have the same problem did you find any answer

@harishbabu4034 Год назад

Very Informative !!! Thanks.

@latasarnaik4754 2 года назад

Clear explanation.Nice

@irenemathews9324 2 года назад

Very good and clear information

@anoopgarg934 2 года назад

Really helpful..

@mohdtousifattar Год назад

❤❤❤ amazing work

@SantoshKumar-vp8cp 2 года назад

Clear explanation. Thank u.

@asitdesai7728 Год назад

Both the Schemes - for LTS and MDS have specified annual limits and are those that require no prior clearance at RBI level and transactable at AD level. In the event an NRI/OCI is a very senior citizen and needs more funds repatriated in the fiscal year beyond this limit - one presumes they can approach the RBI under the related FEMA law for permission to repatriate more funds - or are these limits beyond which no remittance application would be permitted ??

@ManojKumar-bd5kx 2 года назад

Sir... Pls make a video how a NRI transfer money for inviting in USA STOCK market.. thanks

@mamtarodrigues Год назад

Thanks for the information. If a NRI remits funds from foreign account to a Resident as a loan, then can the NRI use the 1 million dollar scheme to repatriate the loan repayment by residents.

@rachitkumar4264 Год назад

Thanks sir , Please can you update the contents as per the latest TCS

@rameshvenkat6907 2 года назад

Very nice Interview. Thanks.

@vinodmore813 2 года назад

Nice information

@kaustubhprayagee7186 Год назад

Thank you so much for this informative video.

@xardove8651 2 года назад

Valuable information.

@lalitabadlani7610 2 года назад

Very informative.. Thank u!

@sankargayathiri9470 2 года назад

Excellent information. Just to clarify that less than 5 lakhs is per financial year is it?

@sriramrao2514 2 года назад

Yes, 5 lakh limit for 15CA- part A only for one financial year

@sankargayathiri9470 2 года назад

@@sriramrao2514 Thank you

@nirjharray5990 2 года назад

Great video, very informative. In the video it is mentioned that if a NRI receives gift from his relatives defined under Companies Act which is in his NRO account can be repatriated under this scheme. Is there any upper threshold to the gifted amount in such case ?

@sriramrao2514 2 года назад

No upper threshold

@anishb930 9 месяцев назад

Will there be TCS applicable when the relative transfer to a NRO account

@sureshsomaiya5742 Год назад

Thank you very much Very informative

@SaranrajAnnamalai90 2 года назад

If parents are gifting money from India to USA for down payment of house to be purchased in USA, how will it be taxed? Are the gift tax applicable for the source?