How NRI in US can invest in indian stock ....

Originally Posted by MeenLoch

Dear ILs,
I have a small query. As you all know, Indian banks on an average of 8% on FDs, whereas in US it s 3%..Now if you have free money floating around, and if you want a risk-free ventures, wouldnt it be nice to store them in FDs in India ?
You earn here, but save the money there. Please throw some light on this.

Love
Vidya

Hi vidya,

You can park the funds in fd's in india..but only as NRI's .. then the interest rate is different according to your time frame and the product...

And if your investment is on the higher side..you can look into RBI bonds

Thanks for the timely response shanthi, but to make advantage of this fact, how about saving the same money in somebody else's name let s say his mother or my mother. She earns quite a bit, but dont think tax on the interest from this money in FD is going to be much.

Another idea is that i am a dependent on my husband here. But have an accnt there. So how about parking my money in that.

RBI bonds. Shall look into the matter. Thanks for the info as always

Originally Posted by MeenLoch

Thanks for the timely response shanthi, but to make advantage of this fact, how about saving the same money in somebody else's name let s say his mother or my mother. She earns quite a bit, but dont think tax on the interest from this money in FD is going to be much.

Another idea is that i am a dependent on my husband here. But have an accnt there. So how about parking my money in that.

RBI bonds. Shall look into the matter. Thanks for the info as always

vidya,

you can park in either of their names as long as you are confident.(I think you want to use the senior citizen interest rate benefit right).. as long as the sums are small the tax is negligible...

You can park in your account.but again taxable. (but safer check with your bank...)

An NRI is liable to tax only on income received or deemed to be received in India or accrued or deemed to accrue and arise in India.