@Ishu Hey, these are quite interesting points to know. I moved abroad 2 years back so was just checking out the tax implications I'll have to bear now. I have a house in India that I wish to sell very soon. Can you just tell what is difference between Short term Capital Gain and Long term capital Gain. Also, as an NRI, do I need to pay taxes at both the places i.e. India and where I presently stay? Or can I get some kind of tax exemption at one place? If anyone can guide.
May I know the best bank to open NRE FD account in India. I understand that SBI is the safest but it offers low interest rates whereas Axis offer good interest rates. Is it safe enough to park money in Axis over SBI (or) should I park some money in SBI and some in Axis?
There are a lot of restrictions on NRIs investing in securities market in India. In most cases, NRIs can invest in IPOs except for NRIs staying in USA and Canada. You need to close the existing Demat account that you had when you were resident. You have to open a new Demat account once you become NRI.
I don't understand why it is not made easy for NRIs to invest back in the country of their origin. If one moves to another country but still wishes to retain some investments back in home country, the process should be simplified. Hope we get to see some relaxations.
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