India-based Airlines Chai Stall
Jul 31, 2017, 8:19 pm
#3287
FlyerTalk Evangelist
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 31,475
Does anyone have experience repatriating money from the sale of shares? Mom had bought some shares before leaving India and would like to sell them and bring the money here. The links from my search talk about money from the sale of immovable property.
Aug 1, 2017, 1:13 am
#3288
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,187
NRO account holders can send/remit money to themselves easily. You just need a form 15 filled out by your tax accountant. The banks basically want to have a paper that clears them in case the remittance is investigated by tax authorities.
Aug 1, 2017, 7:40 am
#3289
FlyerTalk Evangelist
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 31,475
Thanks but don't you need a CA to sign off? And isn't the source of the money important?
Aug 1, 2017, 8:18 am
#3290
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,187
The CA will sign the form 15. As part of the form 15 you have to say how you got the money. If you have the correct tax residency forms submitted (you should have done that in any case) the bank will not question the source of the money.
Aug 22, 2017, 3:07 am
#3292
FlyerTalk Evangelist
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 31,475
Any idea if this can all be done from abroad or only from India? From my research it appears that the tax is either 15% or 30%. True?
Aug 22, 2017, 10:04 am
#3293
Join Date: Feb 2010
Location: ORD
Programs: US Air, UA BA LH AI DELTA MARRIOTT CHOICE SGP
Posts: 9,883
SIM for NRIs
Hello
Arriving in BOM via 9 W. Where and how can I get a SIM card ( minimal use for a few weeks) ? Phone is unlocked dual SIM LG.
Also what are the limits for carrying INR ( airport incidentals)?
Thanks
Arriving in BOM via 9 W. Where and how can I get a SIM card ( minimal use for a few weeks) ? Phone is unlocked dual SIM LG.
Also what are the limits for carrying INR ( airport incidentals)?
Thanks
Aug 22, 2017, 11:50 am
#3294
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,187
So far I have not transferred any cash from my accounts, but have made contacts at the local bank branch and still use the CA my mother had before for her taxes. The TDS is less if you have filed all the paperwork relating to double taxation and tax residence with the bank. When I did the latter my TDS dropped from 30 something to 10-13%.
Sep 20, 2017, 11:19 pm
#3296
Join Date: Nov 2013
Location: India
Programs: Star Alliance Gold, SkyTeam Elite Plus, Hilton Gold
Posts: 907
This was served to me on a 1100-1300 domestic sector in Y.
Sep 21, 2017, 12:07 am
#3297
FlyerTalk Evangelist
Join Date: Apr 2009
Location: India
Programs: Bonvoy Lifetime Titanium, IHG Plat, HH Gold, Trident Plat, DL Diamond, AI Maharajah
Posts: 29,682
Sep 21, 2017, 4:29 am
#3298
Join Date: Sep 2009
Location: Somewhere near a Airstrip
Programs: BAEC Gold, Hilton Gold, Marriot Platinum
Posts: 647
