FEMA LAW Violations Can Be Expensive For NRIs - A Must Watch Episode - CA DHANUSH BOLAR

Fund transfers are allowed between:
1. Two NRE savings accounts.
2. NRE savings account to NRO savings account.
3. NRO savings account to Resident savings account.
4. NRO savings account to NRO savings account.
5. NRE account to Resident accounts.
 
Fund transfers are NOT allowed between:
1. NRO savings account to NRE savings account.
2. Resident accounts to NRE savings accounts.
3. Funds transfer using IMPS facility from ICICI NRE Savings Account to non ICICI NRE Saving

Sir if my father in law transfers 4000000(40 lakhs ) to his younger son residing in Sweden then it will be taxable in Sweden??

Bottomline Govt India is act like dictator for small guys


All though big player can do whatever and escape out of India

NRI live out of India they know othe countries are much more easy in their hard earned moner
govt is vulture

I’m in U.S .A for last 5 months with Green Card. Any deadline to change my S B account to NRO account?

Good information.

FEMA Laws Violations are attracted for NRIs . Further treating one as Resident or NRI is differentiated with thin line of Intentions of Living period outside of India or in India. So it should be simplified same as in Tax laws.

Question: I am a US Citizen & OCI had NRE & NRO account from 14 years ago. In the meantime I Indian company hired me as an employee on a contract and then I had to live in India and open resident account. I earned from your show it is not legal to hold NRE?NRO accounts. Where can I find out how to do it and pay the taxes on interest received still sitting in the account?

Can NRI's keep and maintain PPF accounts in Post office in India ?

I have a question for you.
NRI get settled down with their wife and children.
1. They too have NRI statis?? Majority of them are Hosewifes. They don't work??
2. Most of them will be operating their SB Account. Is it violation of FEMA??

Really very helpful & clearing various provisions

Every law in India and are created for elites to know. Same with finance. Why could they not make common literate people with easy-to-understand terminologies know it so that they can avoid penalties or imprisonment. Hate these complexities & reliance on professionals who charge exorbitant fees for it😣

Sir, thanks for your amazing videos

Hii Nice Video Sir My question is if I transfer 5 crore from my NRE account to Abroad in my bank account then I have to file 15 CA CB or any permission I have to take from FEMA ?

Sir I a question..I my currently in dependent visa in USA with my husband. I keep on traveling between India and USA. I m not working in USA and not a student. My visa is for 3 years. Am I a NRI according to FEMA? If so then every time I will travel between India and USA, I have to keep on changing my resident account to NRI and visa versa?

My uncle has retired last year and not changed given up nre account as he was I’ll with covid , how to avoid any problems while changing the account now , can we inform the bank from our end or will it be looked over as a genuine cause

Before going abroad and becoming an NRI, if he had invested in LIC policy, PPF account , Post office KVP, residential land in a city, is it necessary for that particular NRI to close these and how he should deal with this matter.

Hello sir,,,. What are the rules and regulations for loan taking from NRI...
Do loan taken from NRI,,, is taxable income in India...

Resident saving a/c. to NRO saving a/cis allowed 2) resident saving a/c to NRI through LRS pl confirm or reply

I have some doubts i have saving account in india i am currently living in Muscat oman and i have 5 lac fds in saving account now i wanted to convert my sb acc to nro account and to open a new nre account as well now i have confusion i have booked fds in saving acc if i trasnfer to nro account there will be 10 to 30% tax deduction what to do pls guide. Thank you

Kindly give us information about the limit one can deposit money in dollars in N R I account.

Thank you for giving these information. God bless you.

Sir I worked in Sri Lanka for some years I had a local account there (,dollar account) with HSBC bank where my salary used to come in USD.. that salary I used to transfer to my HSBC India resident saving account. I never opened an NRE or NRO account.. is this FEMA violation if yes what is the penalty or the punishment?

Sir it is really an informative session. I would like to know if it is possible to settle in India for transactions between two NRIs outside india,
a) by transferring between their NRE accounts in India
b) by transferring between their NRO accounts in India.

Also, another question, is it allowed for a NRI and resident of India to open a joint resident account in India

is there a place on Indian tax website about these rules? Its not fair to be telling NRIs that you are breaking the FEMA law when they are not even aware of what FEMA law means in the first place.

Sir, this is really good information for NRIs. I would like to request one piece of information, what is the scenario if NRI is a joint holder of resident family members/family members in India for the resident their account in their name? I appreciate your providing this information. Thank you.

For relative definition you mentioned about parents brother sister etc. Does this include in laws also like parent in laws brother in laws sister in laws

Sir can u pl help. I am citizen of India this year I applied for green card in USA but still under process I am not Woking here can I close my sb ac in India so many sb acts in India
Can I convert all sb ac in how many NRO ac
Thanks

How much cash money a Indian can take with him during his tourism visit outside India???

Can a Indian send money to his foreign friend via bank transfer, and after some time can he pay back this money to his Indian friend?????

If a person has a stock exchange account in another country and he is earning profit with that trading does he need to pay taxes in India?

How much cash( US dollar) money a NRI can bring in India during his visit????

But the real question is who is the NRI( if a person live on tourist visas in different countries more than 200 days in a financial year or calendar year, will he considered as a NRI or not)????

I don't understand.....I think funds can be transferred from NRE ACCOUNT TO NRO, and any others resident account,,but not vice versa!!!!

Rules made by government and kept in hidden locker….

Nothing will happen many people i know who have no nre and nro account and they are sending money on residential accont from last 8 to 10 years .

👏👏

How many accounts can hold a non resident in deferent banks ? Any limit for deposit NRO account in a financial year?

I am a uk naturalised uk citizen with pan card which i applied a while ago with form 49a ( as i had adhaar card with indian adress) just realised i need to apply with 49aa as i am british citizen, do i need to change this and reapply again With right form ie 49aa?

What about joint account with my mother who is a resident ? My mom uses this account primarily for her needs. But she is old and thus I am on the account to ensure any digital management / speaking with bank when needed is handled by me.

I am now an American citizen in USA and possess a US Passport. My NRO and NRI bank accounts are still maintained in Chennai and am filing Indian Income Tax every year. Can I continue? I am not able to transfer my NRO balance to NRI account. Although you have explained the law clearly, my ICICI bankers are not doing the transfer and say that I need to come in person to do it. Why. Will appreciate your advise?

Confusing ! No wonder India cannot progress. Traps are set surrounding the Nri. sure to get fucked ?

I am an NRI. My father is resident indian having savings acc in India.
Can I remit foreign currency to INR (say AUD to INR) to my father's acc as family maintenance? Will it have any implication to my father from FEMA perspective?

FEMA law is a draconian law and should be abolished

What happens to the interest earned in India? Can it be deposited in a NRO account?

Can NRI continue old fix deposit until maturity of that FD or need to breakup or what to do with them...please reply

Why you did not mentioned in this video, as I read in your another video in comments section, i.e. NRI can maintain residential joint saving account, with close relative such as wife, father, mother...as a second account holder but yes he can't remit any kind of amount from abroad in that account.

I completely agree with the last few statements. A dossier should be given to the NRIs to let them know of the FEMA laws and dos and donts. Otherwise how on earth would a normal citizen come to know of the complex FEMA laws?

Is international mobile recharge violation of fema?

If a brother sends monthly money to his brother in India out of his personal savings in USA and that help exceeds Ra. 10 lakhs per year , even when all transactions are through bank transfers, where the recipient brother receives the money in his bank account in rupees, is it still a crime ?

thank you sir, for the information,
Are there any restrictions below scenario ?
- Transferring funds USD to NRO account
- From NRO account to parents account to have property on parents names

- From my savings account can I transfer funds to NRO.