Back to Home PageWelcome Guest! Register | Login | Home | Contact Us | Site Map | Advertise | FAQ | Search
Canadian Desi
    Charcha


        
  Canada Immigration Forum > About Canada > Jobs > Available > AaDhaar Card
Last Post | Newest Post
 
< [ 1 ] [ 2 ] >

AaDhaar Card




sg11
Junior Desi
Member since: Sep 11




Posts: 4
Location:


Thanks pendse for the information.
I am not interested in getting something illeagl, but is there a way to revert this account to NRE or NRO


 
Post ID: 235641 19-07-17 11:48:34
Report Abuse
rajcanadaMember of Administrators
Admin
Member since: Jul 03




Posts: 2705
Location: Kitchener, ON


sg11, where are you living? Are you filing returns both in India and Canada? If you are living in Canada, you can update the address on the PAN card to state you are living in Canada.

There have been press releases like this stating that NRIs/foreign citizens are exempt from getting Aadhar card and do not need to quote it for filing returns in India. https://www.sgco.co.in/Files/updates/068-DTAX-Press%20Release%20and%20Notification.pdf

It is possible to convert resident account to NRO account. Private banks will accept the application to do it even online or by post, not so sure about nationalized banks.




-----------------------------------------------------------------
Give free food http://www.thehungersite.com ||

 
Post ID: 235646 19-07-17 16:15:48
Report Abuse
rajcanadaMember of Administrators
Admin
Member since: Jul 03




Posts: 2705
Location: Kitchener, ON


One more thing I would like to add is NRIs investments in equities have to be routed through a special account called Portfolio Investment Scheme (PINS) which the banks have to report to RBI. It can held as repatriatable PINS NRE or non-repatriatable PINS NRO basis. It is an offline trading account where you request your broker to place the trades. Shares that you held as a resident Indian will have to be converted to non-PINS NRO account. So, better consult with a CA before you act on anything.

You can go through the link below:
http://content.icicidirect.com/nriregfaq.asp#a521

-----------------------------------------------------------------
Give free food http://www.thehungersite.com ||

 
Post ID: 235648 19-07-17 20:01:58
Report Abuse
pendse
Senior Desi
Member since: Jun 17




Posts: 118
Location:


Quote:
Originally posted by rajcanada

One more thing I would like to add is NRIs investments in equities have to be routed through a special account called Portfolio Investment Scheme (PINS) which the banks have to report to RBI. It can held as repatriatable PINS NRE or non-repatriatable PINS NRO basis. It is an offline trading account where you request your broker to place the trades. Shares that you held as a resident Indian will have to be converted to non-PINS NRO account. So, better consult with a CA before you act on anything.

You can go through the link below:
http://content.icicidirect.com/nriregfaq.asp#a521</font>


If you open a PINS- NRE stock trading account.

And you make money buying & selling stocks as an OCI.

Do you have to file an IT return in India ?

Do you have to pay the 15 % Short Term Capital gains tax in India, if you hold the stocks for less than 1 year ? If you hold it for more than a year, there is no tax, as its considered to be Long Term Capital gains tax.

Does the bank hold back any with holding tax or something when you trade in your PINS NRE account , like they hold back 30 % TDS on the ineterst if you have a NRO savings account with them. Nothing is held back for NRE savings account.

So I am guessing for PINS NRE or PINS NRO trading account the same TDS & with holding tax rules might apply, just like NRE or NRO regular savings account.


 
Post ID: 235659 20-07-17 14:39:31
Report Abuse
sg11
Junior Desi
Member since: Sep 11




Posts: 4
Location:


Thanks Pendse and Raj Canada for sharing the details.



 
Post ID: 235661 20-07-17 16:14:39
Report Abuse
rajcanadaMember of Administrators
Admin
Member since: Jul 03




Posts: 2705
Location: Kitchener, ON


What banks in India charge as TDS need not be your tax rate. It depends on income generated in India. Below Rs. 2.5 lakhs per annum in India, there is no income tax but you will have to file a return if you want to claim a refund of TDS paid.

People who are residents of Canada are taxed on their worldwide income (considered resident for tax purpose). People who are residents of India are taxed on their worldwide income as well. You should consult with a tax professional for accurate information.

-----------------------------------------------------------------
Give free food http://www.thehungersite.com ||

 
Post ID: 235663 20-07-17 22:05:13
Report Abuse
Contributors:
aslidesi(4)  Full House(1)  pendse(3)  rajcanada(4)  RBO(1)  sg11(3)  
< [ 1 ] [ 2 ] >
 
Show Printable version
Send this page to a friend
Add to favorites
 



 
Web
CanadianDesi
Please Contribute!
Write an Article
Send Community News
Create Photo and Video Albums
Submit Good Pictures
List Useful Websites
Post Jobs
Submit Events
List for FREE!
Businesses
Classifieds
Social Organizations
Religious Places
Employment Agencies
Email Page
Your Email
Friend\'s Email

Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions


Site designed, developed and maintained by Marg eSolutions Inc.
//-->