Chartered Accountant Services
Chartered Accountants

K.B.Chandna & Co. K.B.Chandna & Co. K.B.Chandna & Co. K.B.Chandna And Co.
V.Tripathi & Co.
K.B.Chandna And Co.
K.B.Chandna & Co.
V.Tripathi & Co.

NRI Investment Services

Non resident Indians who have/ intend to make Investments in India

NRI Investment For Non resident Indians who have/intend to make investments in property and hold bank accounts in India, we manage their financial affairs in India. We provide NRI investment services, NRI capital gain services, issuing Form 15CB for repatriation of funds, NRI tax filing services as follows:

Banking Accounts

Particulars Foreign Currency
Non-Resident Account
External Rupee Account
Ordinary Account
Type of account Term deposit only Savings, Current, Recurring/ Term deposit Savings, Current, Recurring/ Term deposit
Period for deposits For terms not less than 1 year and more than 3 years i.e. 1-3 years only No restriction No restriction
Joint account In the name of two or more non-resident individuals In the name of two or more non-resident individuals May be held jointly with residents
Operation of account Besides account holder, Power of Attorney holder Besides account holder, Power of Attorney holder NRI and Resident Indian Account holder jointly or severally. Also Power of Attorney holder.
Nomination Permitted Permitted Permitted
Designated currency USD, Pound Sterling, Japanese Yen, Euro, DM, Australian Dollars, Canadian Dollars Indian Rupees Indian Rupees
Canadian Dollars
Rate of interest Fixed or floating within the ceiling rate of LIBOR/ SWAP rates for the respective currency/corresponding term minus 25 basis points at present. Savings: Ceiling rate of six month USD LIBOR
Term Deposit: Ceiling rate of USD LIBOR of corresponding maturity
Current: No interest is paid
Savings: As applicable to domestic savings account 
Term Deposit: Banks are free to determine interest rates. 
Current: No interest is paid.
Taxation of interest Tax-free. Even on permanent return to India, tax-free till the time a person is “Not Ordinarily Resident” within the meaning of the Income Tax Act. Tax-free. If a NRI permanently returns to India, interest accrued w.e.f the date of permanent return to India is taxable. Taxable and Tax deducted at source at the applicable rate
Foreign Currency Risk Account Holder is protected against changes in INR value vis-à-vis the currency in which account is dominated Account holder is exposed to the fluctuations in the value of INR Account holder is exposed to the fluctuations in the value of INR
Repatriation Both principal and interest freely repatriable Both principal and interest freely repatriable Interest and other current income freely repatriable. Principal repatriable up to USD 1 million per calendar year.
Change in residential status Can be continued till due date on which option for conversion to Rupees/ RFC (See FAQs on Returning NRIs) account to be exercised Can be continued till maturity, but to be designated as resident account or converted to RFC Account to be designated as a Resident account

Non resident Indians who inherit assets in India

A NRI inherits assets in the form of investments, property etc in India and intends to either liquidate them and repatriate the sale proceeds of the same or manage the same in most tax efficient manner. We enable him to achieve these objectives by facilitating the clearance from Income Tax Department, RBI and other regulatory authorities.

Returning NRI

NRI who returns to India for good, should know various aspects of Foreign Exchange Regulations (FEMA), Indian Taxation and Banking Regulations in order to rearrange his financial affairs in India and outside India.

When relocating to India, the following aspects should be taken care of :

Where can we help ?

Emigrating Indian/ New NRI

An emigrating Indian/ new NRI wants to retain/ disinvest assets (property, investments, business) acquired in India and repatriate the income/ sale proceeds thereof. We enable him to do so as follows:

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