00:00If you work in Dubai, US, UK, Canada or any other country you can work in India,
00:06or you can run in India, rent, property, dividends,
00:10or you can get to see a year after you go to Bahad,
00:15then you can get 20,000,000,000,000,000,000.
00:17Because many other NRIs have most of the biggest mistakes.
00:21Foreign salary, you can put it in the account,
00:24and then unnecessary tax, TDS, repatriation limit, Fema issues,
00:29and the money transfer rules are different.
00:31Some people don't know that NRE and NRO accounts are both in the US,
00:37but both work, tax treatment and money transfer rules are different.
00:43If you have a wrong account, the tax-free tax-free,
00:47it can also be 30% TDS cut.
00:51Today I will tell you what NRE is and NRO is.
00:58How do you keep your income?
01:00If you keep your income,
01:01where are you,
01:02where are you?
01:04How do you keep your income?
01:05How do you keep your income?
01:06How do you keep your income?
01:08Hello and welcome, you are looking good returns.
01:13I am with your time.
01:14If you want to see FCA and NRO,
01:17if you want to see currency fluctuations,
01:20then you will see the video.
01:23First, basic.
01:25NRE is a full form.
01:27Non-resident, external account.
01:30NRO is a non-resident, ordinary account.
01:33Two accounts are NRIs,
01:35and both are bharatia rupae,
01:37or INR operates.
01:39But both are the purpose.
01:41NRE accounts are mainly foreign income.
01:43What a lot of your income to come to work,
01:44is that Dubai,
01:45U.S. job income,
01:47overseas business income,
01:49foreign pension.
01:50These are all ideally to NRE.
01:52Where NRO account
01:53is Indian income to manage for.
01:55For example, if you have any property in India, dividends, Indian pension, or property sales,
02:04this is all you have in NRO account.
02:07Here is the biggest mistake.
02:10Some people think that all the money is in one account,
02:13but if foreign income is in NRO,
02:17then there are unnecessary tax complications and repatriation restrictions.
02:22Now understand, NRO account is in detail.
02:27Remember that you are in Dubai.
02:28Every month you have a salary in the United Arab Emirates.
02:32Now that you have to pay for India.
02:34If you have to pay for NRO account,
02:37the biggest benefit is that the interest of interest in India is tax-free.
02:43No tax-free.
02:45No tax-free.
02:46No tax-free.
02:48No unnecessary deduction.
02:49No tax-free.
02:50When you have to pay for NRO account,
02:54the interest of interest in India will be exempt.
02:57The second big benefit is repatriation.
02:59Meaning that you have to pay for money.
03:02In NRO account, you can also pay for money.
03:05You can also pay for money.
03:07You can also pay for interest.
03:08There is no yearly limit.
03:10In contender to pay for expenses.
03:21Or if you have to pay for some of these tax-free taxes,
03:25if that's what you have to pay for you.
03:26If you have to pay for payment,
03:27you can pay for a separate loan to pay for it.
03:28And then, if you have,
03:29CD is a short-free income,
03:30you have to pay for bank dollars.
03:32So,
03:32you can pay for interest.
03:35So,
03:35If the price is less or less, it will be more than the impact.
03:40Now, the NRO account is the most useful for the most important part.
03:44The majority income is from foreign countries,
03:47who want to pay tax-free interest or who want to buy money from the coming time.
03:52And who want to invest in India to FD or investments.
03:56Now, understand NRO account.
03:58NRO account is basically made by India's income from India.
04:01If you have a flat flat and rent, but you are in the U.S.
04:07Mutual funds or shares, Indian pension.
04:12Property sale is also the case in its proceeds.
04:15This all is ideal NRO account.
04:18Here is the biggest difference in the taxation.
04:22NRO account is taxable.
04:26Banks generally around 30% of the TDS.
04:30ભી કાટ લેતે પલાસ સરચાજ ઔર સેસ ભી લગ સકતાય જે યાં તિસ ફીસદી
04:59એક ફીનશલ એરચાજ પીસદ તેસદે પલેસદેતે પીસદ પીસદેડ તેસદે તેસદે પલાંંટ પીસદે પીસદેસદે તે
05:29This is a joint holding difference. NRE account generally only NRIs can be held jointly with NRO, but NRO account
05:36can be held with the resident Indian family members, which can be held jointly with the resident Indian family members.
05:43This is why some families can manage household expenses for NRO.
05:49Now, let's understand a simple comparison.
05:52You need to go to NRE account and Indian rent to NRO.
05:58Tax-free interest, NRE co-opt. Local Indian income manage, NRO co-opt.
06:05Unlimited money transfer abroad, NRE accounts.
06:09If you want to join the resident family members, then NRO.
06:13Simple rule, remember that foreign income equals NRE and Indian income equals NRO.
06:19Now, let's understand a practical mistake that thousands of people are doing.
06:23Suppose you are a software engineer in US.
06:26You are in salary dollars, but you have to receive the convenience of NRO.
06:32Now, what will happen?
06:33The interest of that account will be taxable.
06:35The TDS will be cut and in the future, there will be limits and paperwork.
06:39It will be just wrong routing due to unnecessary complications.
06:44This is why smart NRIs usually both accounts maintain.
06:48NRE and NRO.
06:49This is the most practical structure.
06:52Now, let's give you a quick mention of the FCNR account.
06:55Because this account is quite high.
06:57Foreign currency non-resident account.
07:00This is a slightly different concept.
07:02If you don't risk the risk of the INR fluctuation,
07:04you don't risk the risk of the dollar, pounds, euro or foreign currency.
07:09So, FCNR can be useful for you.
07:12Foreign currency is in the same form.
07:15Interest tax-free, NRI status.
07:17And if you have to send the money to you,
07:20if you have to send you out, it will be easy to get.
07:22You mean, if you think that the price is volatile,
07:25you will be volatile,
07:26and you will be able to keep it in the same form.
07:31You can have to keep it in the same form.
07:32The tax implications is the most important part.
07:34This is the most difficult part.
07:37In the NRE, India is tax-free.
07:40NRO is taxable.
07:42Rental income is taxable in India.
07:44Property sale proceeds is taxable in India.
07:46It depends on what the capital gain rules are.
07:49But here, DTAA is very important role play.
07:53If you are in the US,
07:54India is taxed and the US is taxed.
07:57So, DTAA,
07:58double taxation, avoids,
08:00you will be able to help.
08:02So, the same income,
08:03you will be able to give you two times.
08:06Now, returning NRIs is very important part.
08:10If you are permanently in India,
08:12you will be able to inform the bank.
08:14You will be able to inform the bank.
08:16You will be able to inform the residential status.
08:18After that,
08:19the NRE account will not continue.
08:22You will be able to convert the resident account
08:23or R&OR structure.
08:25You will be able to convert the bank.
08:28You will be able to update the bank.
08:29After that,
08:30the Fema compliance issues are.
08:32Now, here is an interesting benefit.
08:34Some returning NRIs
08:36will be R&OR status.
08:38Which will be certain foreign income benefits
08:40will continue to be continued.
08:43And in some cases,
08:44the FNR deposits
08:45will be favorable tax treatment.
08:49But this is the planning
08:50proper CA guidance.
08:52If you want to buy property
08:54and you will be able to buy a big number,
08:58they'll be able to pay.
08:59If you want to pay for the rent,
09:00and every month,
09:01you will not have to pay the rent.
09:04But if you want to buy property,
09:04you will have to pay for it,
09:04then you'll be able to pay for the fee.
09:08You can pay for the number of your day.
09:10So,
09:11if you are MRA and 45.
09:13और interest rate लग रहा है 6.5%
09:16तो 6,50,000 yearly interest पूरी तरह से आपका tax free हो सकता है
09:21लेकिन वही amount अगर NROFD में है
09:23तो करीब 30% TDS आपका cut सकता है
09:26मतलब लगभग 2,00,000 रुपे का फर्क है
09:29यानि सही account structure literally आपके लाखों रुपे बचा सकता है
09:34अब सवाल यह कि आखिर choose क्या करें
09:36अगर आपकी major income foreign countries में है
09:39और आपको tax efficiency और easy repatriation चाहिए
09:42तो NRI आपकी priority होनी चाहिए
09:44अगर इंडिया में rent, dividends, pension जैसी regular income है
09:47तो NRO ज़रूरी है
09:48और practical reality यह है कि most NRIs, जादा तर NRIs दोनों accounts रखते है
09:53आज कल SBI, HDFC, ICICI, XS Bank
09:58जैसे banks online NRI accounts opening काफी आसान बना चुके है
10:01OCI और PIO holders भी accounts open कर सकते है
10:05documents क्या-क्या लगते है
10:07passport, visa या residence permit, pan card, Indian और overseas address proof
10:12और सबसे important status timely update करिएगा
10:15क्योंकि resident से NRI और NRI से resident बनने पर banking compliance बदल जाती है
10:21और अगर बड़ी amount को इधर से उधर करना है
10:24वा एक देश से दूसरे देश भेजना है
10:27specially property sales जैसा
10:29तो CA guidance जरूरी है
10:31तो finally पूरे वीडियो का सबसे simple summary ये
10:34कि आपको foreign income NRI में रखनी है
10:36Indian income NRO में
10:38NRI में आपको tax benefits मिलेंगे
10:40NRO में tax interest मिलेगा
10:42लेकिन limited मिलेगा
10:44और अगर currency risk avoid करना है
10:45तो FCNR को भी आप consider कर सकते हैं
10:49अगर आप foreign income कमा रहे हैं
10:51तो जरा संभल कर account select करियेगा
10:52account choice literally आपके
10:54लाखों का फर्क बचा सकती है
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