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Cs26kit (Mr. )     10 May 2021

Post Office MIS & NRI


I was deemed an NRI few years back, according to Income Tax laws, because I had to be outside India for employment purposes for more than 184 days in a financial year. I had opened a Post Office Monthly Income Scheme (MIS) account when I was back in India. Honestly, back then, I wasn't even aware what constituted an NRI in the eyes of IT dept as we always believed NRIs were those who left India & had no intention of returning as a citizen. Consequently, I wasn't aware of the restrictions on NRI investments in India. I only recently learned while browsing online that NRIs are not allowed to invest in Post Office Savings schemes including MIS & other time deposits!! As of now, I am again a Resident because in FY 2020-21 I was home due to the global pandemic & my stay in India is now more than 182 days in the FY.


1. What are my options now? Should I prematurely close the MIS account? Should I wait for its Maturity?


2. Can I still open a Post Office MIS account if I become a 2nd account holder in a Joint account for MIS along with one of my Resident Sisters? Thank you for your time and help.



 7 Replies

anil jain

anil jain (Partner)     12 May 2021

I do not think that there is restriction on NRI to open MIS in PO.

Pl read the attached file

Attached File : 306386 20210512122727 monthly income account scheme 2019 english.pdf downloaded: 5 times

Cs26kit (Mr. )     12 May 2021

@ Anil Jain Thank you for the response. My query in the first post arose because of the information given in the following articles. Will you please quickly check them & give your input? T M L


Cs26kit (Mr. )     12 May 2021 T M L


Cs26kit (Mr. )     12 May 2021

Please remove the spaces between the H T M L in the above link. 

I don't know how but I guess the website put those spaces.

anil jain

anil jain (Partner)     12 May 2021


the link you provided is not working

Do not get confused, I have provided the rules of govt of India.



Cs26kit (Mr. )     14 May 2021

Hello Anil Sir,

The links are working but the forum is putting space in the last part of the link making it inaccessible.

You will reach the link by simply searching the following in Google.

"Can NRIs Invest In NSC, PPF And Other Post Office Schemes?"

The second lnnk works fine as is.

Thank you.

anil jain

anil jain (Partner)     15 May 2021

NRI are not allowed to invest in post office savings schemes.

 wait for its Maturity

you can still open a Post Office MIS account as now you are not NRI.

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