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Coins fetch more coins. An investment today is the income of tomorrow. For having treasure, you need to be bighearted for gambling with your hard-earned money. Once you are all set to invest, going through intense study of investment channels is must. But where should be investment done? After all, your money will be at stake.
Global nations have started looking at India with the hopeful eyes. Booming economy is its edge that attracts immigrants to come in & invest. With the promise of growth in its every sector, reputed corporates have turned their faces towards it. Its upturn is reflected through its technology, agriculture, banking, finance, research & science sector.
India is open for all non-residents of India (NRIs) to secure money here as an investment in banks & industries. That’s why they invest in shares of the indigenous companies for earning partnership through them. Their capital investment in Indian industries automatically credits their bank accounts. And Reserve Bank of India (RBI), the Apex Indian bank, can put no hurdles in it. It’s true that this regulatory entity of Indian fund keeps an eye on every inflow & outflow transaction. But for keeping NRI’s happy, it constitutes some really beneficial strategies & NRI investment services to drag them closer to their native land.
Money en route to Immovable property:
For NRIs, RBI has simplified the investment in immovable property procedure. However, agro land, plantation property & farm house fall in the category of exception of immovable property. It’s all for the sake of jumping up sales and investment. Keeping benefits for NRIs in view, the payment procedure is kept legal. Inward remittance through any place outside India can be adopted to receive funds. They can pay through non-resident account under RBI Act & provisions.
Even, close relative of the NRI borrower can repay housing loans in rupees. As perk, they are entertained with tax benefits too if they invest in real estate of India. They have to pay capital gain tax on selling the property, but with special benefits towards home loan repayment. Interest amount on home loan repayment is cut off from their taxable income.
NRIs can subscribe to chit funds
NRIs can subscribe to chit funds provided that the money will not be taken out of the nation. It is for those NRIs who are intended to come back to India. Normal banking channel is declared for its funding. The account should be maintained with a bank in India, as per RBI directions.
NRI deposits:
Indian government offers NRI deposits to bring direct gain in their pocket. Their gain has stability too under the banner of these three:
- Foreign currency non-residents (banks) or FCNR
- Non-resident ordinary or NRO
- Non-resident external (rupees) or NRE
The depositors win an arbitrary opportunity of getting higher rate of interest. Not only this, they become eligible to get gain from the value of the rupee upon conversion.
With these, many schemes are in pipeline of the government. These schemes are related to IT, research and technology in which NRIs can participate through investment. In return, they may get a handful of incentives & reduction in tax as well.
My elder brother wants to invest in Chit fund. But he doesn’t want to come back. So, I suggested to invest in NRE or NRO or FCNR and this update was in your portal. I will keep on suggesting him more good information. Keep delivering money related updates please.