AlaElaAlaEla Posted March 26, 2019 Report Share Posted March 26, 2019 FCNR interest rates are good 3.74% for 1 year. https://www.sbi.co.in/portal/web/interest-rates/foreign-currency-non-resident-deposits-fcnr 1 Quote Link to comment Share on other sites More sharing options...
Merabharathmahan Posted March 26, 2019 Report Share Posted March 26, 2019 problem is additional paper work like FATCA form file cheyali foreign lo 50k kante ekkuva unte. 10k kante ekkuva unte fbar cheyali. Vachina interest amount ni schedule-B lo chuyinchi tax kattali. Us lone CD or 2% interest iche savings accounts lo pettuko. Quote Link to comment Share on other sites More sharing options...
tacobell fan Posted March 27, 2019 Report Share Posted March 27, 2019 1 hour ago, AlaElaAlaEla said: FCNR interest rates are good 3.74% for 1 year. https://www.sbi.co.in/portal/web/interest-rates/foreign-currency-non-resident-deposits-fcnr cc @jefferson1 Quote Link to comment Share on other sites More sharing options...
dasara_bullodu Posted March 27, 2019 Report Share Posted March 27, 2019 Better to put instead of leaving in bank Quote Link to comment Share on other sites More sharing options...
dasara_bullodu Posted March 27, 2019 Report Share Posted March 27, 2019 48 minutes ago, Merabharathmahan said: problem is additional paper work like FATCA form file cheyali foreign lo 50k kante ekkuva unte. 10k kante ekkuva unte fbar cheyali. Vachina interest amount ni schedule-B lo chuyinchi tax kattali. Us lone CD or 2% interest iche savings accounts lo pettuko. NRE account ki kooda anthe na ikkada tax kattakkaredu kani malli US lo kattala alrrady kattina daniki ? Quote Link to comment Share on other sites More sharing options...
Merabharathmahan Posted March 27, 2019 Report Share Posted March 27, 2019 1 hour ago, dasara_bullodu said: NRE account ki kooda anthe na ikkada tax kattakkaredu kani malli US lo kattala alrrady kattina daniki ? Yes brether. NRE, FCNR account meeda vache interest ki US lo taxes kattali like 1099-INT. ikkada tax kattedi interest amount meeda(not on promciple amount). Interest meeda tax kattadam problem kadu but on top of it FBAR, FATCA forms every year evaru file chestaru. Enni lakhs FD chesav NRE account lo? Quote Link to comment Share on other sites More sharing options...
Spartan Posted March 27, 2019 Report Share Posted March 27, 2019 Interest kuda Dollar roopam lo ne istada..? Quote Link to comment Share on other sites More sharing options...
Merabharathmahan Posted March 27, 2019 Report Share Posted March 27, 2019 1 minute ago, Spartan said: Interest kuda Dollar roopam lo ne istada..? FCNR dollars lone untay mama. Ya interest kooda i think. But ee tax paper work lolli undi kada fatca, fbar, schedule-b.... Quote Link to comment Share on other sites More sharing options...
Spartan Posted March 27, 2019 Report Share Posted March 27, 2019 1 minute ago, Merabharathmahan said: FCNR dollars lone untay mama. Ya interest kooda i think. But ee tax paper work lolli undi kada fatca, fbar, schedule-b.... hmm, nenu vesina SBI life account lo advantage enti ante.. if u use that Money in India, that is tax free...u need to pay tax only if u take it out of india.. Quote Link to comment Share on other sites More sharing options...
AlaElaAlaEla Posted March 27, 2019 Author Report Share Posted March 27, 2019 2 hours ago, Spartan said: Interest kuda Dollar roopam lo ne istada..? yes everything is in dollars. no need to worry about USD-INR change. Quote Link to comment Share on other sites More sharing options...
AlaElaAlaEla Posted March 27, 2019 Author Report Share Posted March 27, 2019 3 hours ago, dasara_bullodu said: NRE account ki kooda anthe na ikkada tax kattakkaredu kani malli US lo kattala alrrady kattina daniki ? 2 hours ago, Merabharathmahan said: Yes brether. NRE, FCNR account meeda vache interest ki US lo taxes kattali like 1099-INT. ikkada tax kattedi interest amount meeda(not on promciple amount). Interest meeda tax kattadam problem kadu but on top of it FBAR, FATCA forms every year evaru file chestaru. Enni lakhs FD chesav NRE account lo? ooruko vayya, evvaduu cheyyadu. India lo vache interest meeda tax entha mandi kadatharu US lo ? prathi daaniki paper work ante, no one will do it. NRE accounts lo indian tax undadhu why because we are already paying tax here in US, not sure why this needs to be reported back again to US? Quote Link to comment Share on other sites More sharing options...
dasara_bullodu Posted March 27, 2019 Report Share Posted March 27, 2019 2 hours ago, Merabharathmahan said: Yes brether. NRE, FCNR account meeda vache interest ki US lo taxes kattali like 1099-INT. ikkada tax kattedi interest amount meeda(not on promciple amount). Interest meeda tax kattadam problem kadu but on top of it FBAR, FATCA forms every year evaru file chestaru. Enni lakhs FD chesav NRE account lo? Account monne activate aindi SIP vesanu monthly 20k rs Quote Link to comment Share on other sites More sharing options...
Spartan Posted March 27, 2019 Report Share Posted March 27, 2019 43 minutes ago, AlaElaAlaEla said: ooruko vayya, evvaduu cheyyadu. India lo vache interest meeda tax entha mandi kadatharu US lo ? prathi daaniki paper work ante, no one will do it. NRE accounts lo indian tax undadhu why because we are already paying tax here in US, not sure why this needs to be reported back again to US? Because that is the income u r getting and not paying taxes anywhere... Interest amount is considered as income anywhere in the world. Quote Link to comment Share on other sites More sharing options...
dasara_bullodu Posted March 27, 2019 Report Share Posted March 27, 2019 34 minutes ago, Spartan said: Because that is the income u r getting and not paying taxes anywhere... Interest amount is considered as income anywhere in the world. Why should we pay for NRE if it’s already converted ? Quote Link to comment Share on other sites More sharing options...
AlaElaAlaEla Posted March 27, 2019 Author Report Share Posted March 27, 2019 @Spartan @dasara_bullodu Do you file ITR in India every year? Quote Link to comment Share on other sites More sharing options...
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