0
Add your answer:
Earn +20 pts
Can you send money to Indian bank account through money gram?
Yes, you can send money to an Indian bank account through MoneyGram.
How can a Foreign company open a Bank account in India?
if they have a branch in Indian
Banks offering demat account?
There are many banks in India that offer a DEMAT account. Any Indian citizen who has a valid residence proof and PAN card can open a DEMAT account. Some banks that offer such services are:ICICIHDFCSBIAxis BankKVBetc
How do you find SORT code or a bank in India?
Sir, I like to know the sort code of Indian bank.Since one funding agency from UK asked me to give the sort code .We have account in Indian bank.Kindly let me get answer Yours sincerely Mrs.Moly Selvanathan
A note on returning nri?
NRE- NON RESIDENT EXTERNAL Accounts are for Non Resident Indians. An NRE Account can be of the type, Savings, Fixed Deposit and Current:Here is the specification of NRI and NRE AccountsNON RESIDENT (EXTERNAL) - [NR (E) ]1.Definitions :01."Non Resident Indian" (NRI) means an Indian citizen or a foreign citizen of Indian origin (excluding citizens of Bangladesh and Pakistan) residing outside India.Recently RBI has clarified that students studying abroad also be treated as NRIs under FEMA and accordingly be eligible for foreign investments and NRE/FCNR a/cs[Regulation._______________ ]02."Overseas Corporate Body" (OCB) means a Company, Partnership Firm, Society etc. wherein 60 % or more ownership lies with NRIs or a Trust wherein 60 % or more financial interest is irrevocably held by NRIs.[Regulation.____________ ]03"Person of Indian Origin "(PIO) means a person who;iat any time held an Indian Passport, oriihimself or his parents or grant parents were citizens of India, oriiiis a spouse of an Indian citizen, orivis a spouse of person referred to in (i) or (ii) above.[Regulation.____________ ]2.Non Resident (External) Rupee Account - [NR(E)].01ELIGIBILITYAn NRI (or an OCB uptill 3-10-2003) can maintain the account. Account holder is required to open the account personally. Power of attorney can not open the account..02TYPE Of ACCOUNTSSavings, Current, Recurring Deposit or Fixed Deposits..03MODE OF DEPOSITForeign Exchange transfer from abroad/from NRE/ FCNR(B) Account of account holder or another NRI or Deposit of Foreign Exchange during visit to India..04PERIOD12 Months to 120 months. .05JOINT HOLDINGTwo or more NRIs may open a joint account. .06REPATRIATIONPrincipal and Interest - both Fully Repatriable..07INTERESTCompounded quarterly..08LOANSAvailable to account holder as well as third party resident in India.LOANS IN INDIA-To ACCOUNT HOLDER : For business, investment in shares & securities, purchase of house property for own residential purpose and any other personal purpose.LOANS IN INDIA-To 3RD PARTY : For personal or business purpose.LOANS OVERSEAS : Fund based/ non fund based facility for any bonafide purpose..09TRANSFERSTransfer to NRE/FCNR(B) Account of the account-holder or any other NRI permitted.Gift to Resident/NRI permitted.( POWER OF ATTORNEY holder CAN NOT GIFT.).10ATTORNEYAn attorney can operate an account but can not open the account, make gift, transfer funds to another NRE Account nor remit abroad.However w.e.f 15-3-2005 an attorney can withdraw for local payments or remittance to the account holder himself through normal banking channels..11NOMINATIONPermissible..12RENEWAL / TRANSFER.01Can be renewed and easily transferred to account holder's another NRE / FCNR(B) account..02Transfer to another NRI's NRE / FCNR(B) account permitted..03Transfer abroad by way of remittance - Allowed.The account can also be shifted from one authorized dealer to another..13MODE OF REMITTANCEPermitted in any convertible foreign currency.14PREMATUREWITHDRAWALPermissible - However, For period of less than 6 Months - No Interest payable - Above 6 Months -Subject to Penalty -as per Bank Rules..15EXCHANGE RATEAt Banks Buying / Selling Rate..16TAXABILITY01Interest exempt from Income Tax.02Balance not subject to Wealth Tax.03No Gift Tax provisions in India. Hence no gift tax liability on gifts from NRE account. However w.e.f 1-4-2006 u/s 56 of the I.T Act amount received in excess of Rs.50000 by way of gifts to be included in individual's income and chargeable to income tax. Gift from specify relatives are exempt. .17RETURNING NRIs01NRE account is to be redesignated as Resident Account immediately upon return, or.02Funds be transferred to Resident Foreign Currency (RFC) Account immediately upon return..18PERMITTED CREDITSa)Proceeds of remittances to India in any permitted foreign currency.b)Proceeds of personal cheques drawn by the account holder on his foreign currency account and/or travelers cheques, bank drafts payable in any permitted currency including instruments expressed in Indian rupees for which reimbursement will be received in foreign currency, deposited by the account holder in person during his temporary visit to India, provided the authorized dealer/bank is satisfied that the account holder is still resident outside India, the travelers' cheques/drafts are standing/endorsed in the name of the account holder and in the case of travelers' cheques, they were issued outside India.c)Proceeds of foreign currency/bank notes tendered by account holder during his temporary visit to India, provided :(i) the amount was declared on a Currency Declaration Form(CDF)4, where applicable, and(ii) the notes are tendered to the authorized dealer in person by the account holder himself and the authorized dealer is satisfied that account holder is a person resident outside India.d)Transfers from other NRE/FCNR(B) accounts.e)Interest accruing on the funds held in the account.f)Interest on Government securities and dividend on units of mutual funds, provided the securities/units were purchased by debit to the account holder's NRE/FCNR(B) account or out of inward remittance through normal banking channels.g)Maturity proceeds of Government securities including National Plan/Savings Certificates as well as proceeds of Government securities and units of mutual funds sold on a recognized stock exchange in India and sale proceeds of units received from mutual funds, provided the securities/units were originally purchased by debit to the account holder's NRE/FCNR(B) account or out of remittances received from outside India in free foreign exchange.h)Refund of share/debenture subscriptions to new issues of Indian companies or portion thereof, if the amount of subscription was paid from the same account or from other NRE/FCNR(B) account of the account holder or by remittance from outside India through normal banking channels.i)Refund of application / earnest money / purchase consideration made by the house building agencies / seller on account of non-allotment of flat / plot / cancellation of bookings / deals for purchase of residential / commercial property, together with interest, if any (net of income tax payable thereon), provided the original payment was made out of NRE / FCNR account of the account holder or remittance from outside India through normal banking channels and the authorised dealer is satisfied about the genuineness of the transaction.j)Any other credit if covered under general or special permission granted by Reserve Bank..20PERMITTED DEBITSa)Local disbursements .b)Remittances outside India.c)Transfer to NRE/FCNR(B) accounts of the account holder or any other person eligible to maintain such account.d)Investment in shares/securities /commercial paper of an Indian company or for purchase of immovable property in India provided such investment/purchase is covered by the regulations made, or the general/special permission granted, by the Reserve Bank.e)Any other transaction if covered under general or special permission granted by the Reserve Bank..21DECLARATION OF AMOUNTIn Currency Declaration Form (CDF)4 where applicable.
What is the maximum age limit for applying the Indian passport?
No there is no age limit.
Is birth certificate required for applying Indian passport?
http://passport.gov.in/cpv/checklist.htm check there
How many photos required for applying Indian passport?
Maximum 5 are enough ,but u can go with 7
How do you get the copy of surrender Indian passport?
'How do you get the copy of surrender Indian passport?
Does a Canadian citizen with Indian passport need visa to visit US?
how can you be a Canadian citizen with Indian passport. If you are Canadian resident with Indian passport yes you have to get a US Visa.
Who are eligible for LLP?
Individual eligible to conduct business in Indian Region is eligible for LLP registration if that individual is accompanied by another eligible partner with Indian Citizenship
How can you trace your fathers original Indian passport before he got a british passport when he came to UK approx 1950?
how can i trace my fathers Indian passport
What is the passport size photo dimension in pixels in UK?
If you are in India, the passport photo size is 35x35mm. However if you are in the USA and are renewing or applying for Indian passport with any of the Indian consultes, they will take 2x2 inch or 51mmx51mm sized photos.
Does an Indian passport holder need a visa to Syria?
Yes I want the Syria visa on Indian Passport... please help
Can you get an Indian passport if you were born in India but also want to keep your British Passport?
No you cannot get an Indian Passport, The Indian Government does not allow holding two passports... But, you can get OCI( Overseas Citizenship of India ) : if your parents / grandparents held Indian passport at anytime in their life they you should be able to get OCI. OCI is a life long Indian Visa Endorsed in your Passport and you also get a booklet which looks similar to Indian passport but it is technically not a passport. You will all the rights as any ordinary Indian citizen. Cheers! Sukhdeep.. Thanks - I was born in India so would my birth certificate qualify me (plus my wife and UK born child) for OCI?
What will happen if Indian Passport damaged in US?
http://www.nasha.co.in/blog/2008/02/11/surviving-a-damaged-indian-passport/
How do you get a toursit visa to bora bora islands for an Indian passport holder?
how do get toursit visa bora bora for indian passport holder
