Financial steps before moving abroad temporarily
This query is : Resolved
14 September 2022
Hello,
I will be moving to a foreign country on work permit in a few days.
I need to know what steps should I take regarding my Bank Accounts /FDs which I operate in India as I will become an NRI.
I have FDs which will mature in 3 years in my different bank accounts.
Do I need to break my FDs and transfer all my savings money into a single account and the convert it to NRO account Or can I wait till the FDs mature and then close/convert the bank accounts to NRO?
I will be moving to a foreign country on work permit in a few days.
I need to know what steps should I take regarding my Bank Accounts /FDs which I operate in India as I will become an NRI.
I have FDs which will mature in 3 years in my different bank accounts.
Do I need to break my FDs and transfer all my savings money into a single account and the convert it to NRO account Or can I wait till the FDs mature and then close/convert the bank accounts to NRO?
14 September 2022
Convert your SB account as NRO account within 6 months of leaving the country.
Wait till the FDs mature and then transfer it to NRO.
Wait till the FDs mature and then transfer it to NRO.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- One Post a Week Done Right Beats Seven Done Wrong
- Interest on SCSS
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
