India Lo Fixed Deposit

[Mr_PapaRayudu]

uttiti bank is ok..

 

but naitonalised bank lo unte matram..they will get access now a days...

 

workaround..parents peru meeda pedite..no tax, also good itnerest rate...

 

Parents need not be senior citizens right ... appudu aa clause pani cheyadhu kada......

 

I think 60+ are called senior citizens... My parents are in late forties/ early fifties.....

 

 

 

[Mr_PapaRayudu]

latest interest rates are here..

 

http://www.andhrafriends.com/topic/550125-siri/?hl=siri

 

Awesome.. Thanks

[Spartan]

Parents need not be senior citizens right ... appudu aa clause pani cheyadhu kada......

 

I think 60+ are called senior citizens... My parents are in late forties/ early fifties.....

 

oh ok..so its only for senior citizens then..

[macha]

bookmarked thanks TS

[Mr_PapaRayudu]

bookmarked thanks TS

 

:)

[Mr_PapaRayudu]

Which type of account is best in terms of depositing money.. NRE or NRO  ?

[Spartan]

Which type of account is best in terms of depositing money.. NRE or NRO  ?

 

NRE..future lo loan teskunte kud apanikostadi..

[Mr_PapaRayudu]

NRE..future lo loan teskunte kud apanikostadi..

 

NRE account ki FD minimum 1 year cheyali.... NRO account lo short term deposits  scope vundhi.....

 

kani NRE lo amount ki tax kaatakarledhu ani vinna.... While NRO ki account ki tax kattali ani vina... Is this true ??? Tax in India not US

[Sona_Parv001]

Please answer to my questions in steps...... Pedda pedda paragraphs raayali ante write it after answering all my questions ..... Thank you for your replies.....

 

 

-  India lo fixed deposit cheyadaniki ye bank best ?????

 

- What is the interest that they give  ?

 

- Can I break my money into multiple fixed deposits in one bank with one account  ???? You know why I want to do this. :)

 

- Madhyalo amount bayata ki , how much interest will I get  ???

 

- Manaki tax vuntundha Interest meedha vachina amount ki ??????

Graamena bank lu ayithe best.

9% if you deposit for 1yr.

Yes.

8%

Not Sure.

[reddy2078]

ltt

[pjung88]

NRE account ki FD minimum 1 year cheyali.... NRO account lo short term deposits scope vundhi.....

kani NRE lo amount ki tax kaatakarledhu ani vinna.... While NRO ki account ki tax kattali ani vina... Is this true ??? Tax in India not US

Yes, nre account one year minimum unchali for interest..nro are more short term and interst varies, even if you have to withdraw prematurely, generally, you will get interest for that duration you vested...

Nre ki india no taxes..NRO you have to pay tax. All indian banks now do TDS(tax deduction at source) which means they automatically deduct the tax from your interest(this applies only for nro).

For usa tax purposes, you have to declare your global income.so, this inculdes your interest amount from both NRE and NRO. For NRE you are not taxed in india but NRO you will be,so you can submit a form saying you paid tax in india, that way you do not get double taxed.(a form number marchipoya, google that).

Andhuke simple ga, it is better to take NRO accounts on parents behalf because you do not have to worry about declaring them here and if they are seniors, they get better interest rates(naaku telisi, even senior citizen accounts are taxed;not sure)..

One more thing,money in NRE account is repartiable..which means you can bring it back usa as much as you want..but NRO account you to have declare and RBI has some restrictions, I think 25k per person per year.( there are some work arounds,but i guess thats not the topic here)..

[Hitman]

Yes, nre account one year minimum unchali for interest..nro are more short term and interst varies, even if you have to withdraw prematurely, generally, you will get interest for that duration you vested...

Nre ki india no taxes..NRO you have to pay tax. All indian banks now do TDS(tax deduction at source) which means they automatically deduct the tax from your interest(this applies only for nro).

For usa tax purposes, you have to declare your global income.so, this inculdes your interest amount from both NRE and NRO. For NRE you are not taxed in india but NRO you will be,so you can submit a form saying you paid tax in india, that way you do not get double taxed.(a form number marchipoya, google that).

Andhuke simple ga, it is better to take NRO accounts on parents behalf because you do not have to worry about declaring them here and if they are seniors, they get better interest rates(naaku telisi, even senior citizen accounts are taxed;not sure)..

One more thing,money in NRE account is repartiable..which means you can bring it back usa as much as you want..but NRO account you to have declare and RBI has some restrictions, I think 25k per person per year.( there are some work arounds,but i guess thats not the topic here)..

 

GP
 

[princeGM]

gp