Dear All,
One of my friends has invested US$40,000 (under the liberalized scheme over a in a company in Singapore as a Share captial. He is an Indian National. He has not got any PROFITS or dividends or any other income from the said company or otherwise overseas.
Now, he wants to bring back the invested sum of US$40,000 in its entireity. Are there any implications from Incometax Angle or from FEMA / FERA.
Please advice
Rgds
Mohan
Confused about which bank account to use as an NRI…? You will get an answer in this article.
An Indian living abroad doing a service, running a business or pursuing any vocation is a non-resident Indian. It is estimated there are over 25 million NRIs spread across the globe. With this huge Diaspora, banking needs for transfer of funds, savings, investments and repatriation of NRIs have also expanded.
https://www.holisticinvestment.in/nri-banking-account-nri-savings-account
Regards
Ramalingam K- Director & Chief Financial Planner.
HOLISTIC INVESTMENT PLANNERS PRIVATE LTD
“Best Performing Financial Advisor Award” Winners from CNBC TV18
Website: www.holisticinvestment.in
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