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Friday, October 13, 2017

BREAKING NEWS :- RAJYA SARKAR DWARA SARKARI KARMACHARIO MATE MAHATVA NI JAHERAT : SEE THIS NEWS REPORT.

BREAKING NEWS :- RAJYA SARKAR DWARA SARKARI KARMACHARIO MATE MAHATVA NI JAHERAT : SEE THIS NEWS REPORT.

I am moving to the US for a few years. I am told that India mutual funds cannot be bought by NRIs in the US and Canada. I have substantial mutual fund holdings and SIPs. After I move, can I continue my SIPs, or will I have to discontinue it. Also, can I maintain my mutual fund holdings or will I have to liquidate them before leaving India?

—Sarang Kidwai

Non-resident Indians living in the US or Canada are subject to restrictions when it comes to investing in Indian mutual funds. So, yes, once you become a US-resident NRI, you will not be able to continue investing in many of the mutual funds in India. There are some exceptions though, such as Sundaram Mutual Fund, Parag Parikh Financial Advisory Services Pvt. Ltd (PPFAS), and L&T Mutual Fund. So, you may want to verify with the fund houses where you have holdings. That said, your existing investments (existing units from past investments or systematic investment plans (SIPs) can still be held in your name without any issue. You do not have to liquidate them before leaving India. Only future investments (as well as future SIP instalments) will be affected by your transfer of residence. However, gains from your holdings here in India may be subject to taxation in US, and you would need to confirm that with a tax attorney in US at the appropriate time.


I have recently started investing in mutual funds. I have a lump sum of Rs50,000. How and where can I invest it; and what would be the return on it in about 10 years from now. If I invest Rs5,000 via systematic investment plan each month instead, will I have to continue paying each month for the next 3 years? I don’t know if I will be able to do that. If I want to withdraw before 10 years, when can I start redeeming my investment with profits?

—Wilson Vas


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