FCNR vs FD in India

[YeddiBK]

7 minutes ago, manchivaadu said:

difference endi ante

FCNR deposits in $$

NRE FD in INR 

adi sangathi

 

oh got it

[thanks]

fcnr interest % enta

[thanks]

fcnr interest % enta

[Android_Halwa]

7 hours ago, manchivaadu said:

interest income earned from FCNR account is exempt from tax 

I will put in this way...

income earned on FCNR is tax exempt in India but liable to income tax in USA if the account is operated and funded from USA. 

The only reason why amount from FCNR is easily transferable is because you would always be paying taxes in one country and tax exempt in India, it is easily and hassle free transfer.

[Android_Halwa]

7 hours ago, manchivaadu said:

interest income earned from FCNR account is exempt from tax 

I will put in this way...

income earned on FCNR is tax exempt in India but liable to income tax in USA if the account is operated and funded from USA. 

The only reason why amount from FCNR is easily transferable is because you would always be paying taxes in one country and tax exempt in India, it is easily and hassle free transfer.

[Merabharathmahan]

2.5% interest fcnr fd la meeda kada then usa lo 30% tax on interest money kattali. So 1.8% interest vastundi. But lots of fatca Tax rules and malli repatriate appudu bank to bank easy ga online lo cheyyocho ledo teliyadu. 

usa bank lone pettuko interest rakunna parledu just keep money where u r living currently. 

[cup_saucer]

22 hours ago, YeddiBK said:

Bro, even FD for NRE accts repatriable kada ee FCNR enduku? what is the difference between FCNR and NRE FD ?

NRE FD analedu.... regular FD deposted on mother's name after sending money to india xoom or somehow.

[cup_saucer]

22 hours ago, YeddiBK said:

Bro, even FD for NRE accts repatriable kada ee FCNR enduku? what is the difference between FCNR and NRE FD ?

NRE FD analedu.... regular FD deposted on mother's name after sending money to india xoom or somehow.

[Android_Halwa]

6 hours ago, Merabharathmahan said:

2.5% interest fcnr fd la meeda kada then usa lo 30% tax on interest money kattali. So 1.8% interest vastundi. But lots of fatca Tax rules and malli repatriate appudu bank to bank easy ga online lo cheyyocho ledo teliyadu. 

usa bank lone pettuko interest rakunna parledu just keep money where u r living currently. 

FCNR is easy to convert and transfer to other countreis...its usually hassle free unless emaina kathalu chesthe thappa..

interest rates anduke takuva..because its very volatile..

[Android_Halwa]

6 hours ago, Merabharathmahan said:

2.5% interest fcnr fd la meeda kada then usa lo 30% tax on interest money kattali. So 1.8% interest vastundi. But lots of fatca Tax rules and malli repatriate appudu bank to bank easy ga online lo cheyyocho ledo teliyadu. 

usa bank lone pettuko interest rakunna parledu just keep money where u r living currently. 

FCNR is easy to convert and transfer to other countreis...its usually hassle free unless emaina kathalu chesthe thappa..

interest rates anduke takuva..because its very volatile..