Punjabi NRI
Punjabi NRI group 2009
 Banking Tipsby Satnam Singh Litt, Deputy Manager, State Bank of Patiala Get PAN for avoiding tax at double rate on Indian deposits. Get tax back ,already deducted by banks on your deposits in India. contact at litt@punjabinri.com 1. Interest on Bank FDRs are expected to drop, because inflation has fallen to near zero level, RBI reference rates are cut by over 1%. So, it is advisable to quickly tie-up for 18-36 months, as banks are likely to cut interest rates on Fixed Deposits as they have done in the case of Home Loans. You can perhaps look at income funds with 2-3 years view. 2. Remittance out of India through Banking channels: Beware of illegal money transfer through hawala, restricted money changers, group of persons etc. All these ways adopted by NRIs are punishable offences, both in India and abroad. Why to use illegal methods, if you can send money abroad legally and at cheaper rates through banks upto Rs. 4.75 crore. For information, contact us at litt@punjabinri.com 3. Those NRIs, who will not repatriate deposits from India,should convert their FDRs to NRO a/c fixed deposits to get 7.0 to 8.0% interest. If tax deducted by banks, you can claim its refund, For refund please contact us at litt@punjabinri.com 4. Deposits may be converted into pounds, euro etc to take advantage of lower currency rates. 5. Invest in insurance, mutual funds and equity from NRE deposits to earn more and deposit the redemption and return back in NRE a/c.For earning more without loosing NRE status of your money please contact at : litt@punjabinri.com
For more info, contact us at litt@punjabinri.com |