Friday, April 7, 2017
by
Indian Real Estate News
There is no required procedure for NPS to update your tax status from NRI to resident Indian. However, on becoming a resident Indian, you must inform your bank (that you have linked with your NPS account) about your change of status within a reasonable time. Non-resident Ordinary accounts have to be converted to resident savings bank account. Foreign Currency Non-Resident (FCNR) accounts can run till maturity. However, earnings in Non-resident External (NRE) savings account will have to be transferred to resident savings account or transferred to Resident Foreign Currency (RFC) account. Rest of the procedure remains the same as for resident Indian.
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Top 10 Tax Saver Mutual Funds for 2017 - 2018
Best 10 ELSS Mutual Funds to invest in India for 2017
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. ICICI Prudential Long Term Equity Fund
5. Birla Sun Life Tax Relief 96
6. Franklin India TaxShield
7. Reliance Tax Saver (ELSS) Fund
8. BNP Paribas Long Term Equity Fund
9. Axis Tax Saver Fund
10. Birla Sun Life Tax Plan
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