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  Canada Immigration Forum > General > Our Native Country! > AdharCARD - OCI- MutualFund in INDIA
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AdharCARD - OCI- MutualFund in INDIA




elmer fudd
Senior Desi
Member since: Jan 10




Posts: 454
Location:


Less than 10-15% mutual funds accounts have reportedly been linked to Aadhaar so far.

 
Last edited by: elmer fudd on 28-12-17 08:17:49
Post ID: 236449 27-12-17 01:05:05
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ChandraGupt
Desi
Member since: Dec 14




Posts: 59
Location:


Quote:
Originally posted by MITRON



So better to get an Aadhaar card once and for all. And every time such stuff comes up, you give it to them.

.



Thanks M
this idea looks simple & easyone but how its possible in my case

If I will apply for adhar card then it will arrive after linking deadline(31st march-2018) as i planned trip to india in last week of Feb-2018,...by that time they may freeze my portfolio as I will still not have adhar card

wondering if I can withdraw money/sell MF in February without them showing any adhar card ? or they will ask me to show them adhar card in February ?


 
Last edited by: ChandraGupt on 27-12-17 15:30:04
Post ID: 236457 27-12-17 15:18:35
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ChandraGupt
Desi
Member since: Dec 14




Posts: 59
Location:


Quote:
Originally posted by MITRON



When the market peaks, just sell the Mutual Funds then put the money in a Fixed Deposit and/or Savings Account to avoid such hassles in future. Especially since what most of the stuff you are doing is illegal.

.



in that case if i cash my M(in end of Feb-2018) without showing them any adhar card?--will they(Mutual fund company) still charge 30.5% tax ?
& if i put this money in Fixed deposit under NRO/NRE -do i have to pay 30.5% on the interest income i will make thru deposit ?

sorry i am ordinary investor not familiar with these new law's .

I wish i can do everything honestly--but stuck because not knowing that i supposed to inform mutual fund company--thought govt of india already know everything as they gave us OCI.

I appreciate hard work of Modi Government for bringing transparency in Indian economic system but seems like ordinary investors like me will suffer more :down:


 
Last edited by: ChandraGupt on 27-12-17 15:31:14
Post ID: 236458 27-12-17 15:26:37
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rajcanadaMember of Administrators
Admin
Member since: Jul 03




Posts: 2707
Location: Kitchener, ON


You should be able to cash your mutual fund. They will probably ask for proof of identity and address. So it you have something like PAN card and electricity bill from the place you own in India, that should work.

If you want to continue holding the funds as NRI (OCI), it may or may not be possible. You will have to check with the mutual fund. Some companies do not accept funds from NRIs in US/Canada.

NRE account in general can accept only foreign currency though account is held in INR. You will be able to park your proceeds in NRO account. Interest earned there will be taxable at 30.9% but you may be able to get a full or partial refund of that. It depends on how much earnings you have in India and which Indian tax bracket you fall in. You will have to file taxes in India to get the refund.

You can apply for digital signature while in India. There are many providers like Sify Safescrypt, e-Mudhra, etc. It could come in handy when filing tax returns in India.


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Post ID: 236461 28-12-17 07:00:51
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tamilkuravan
Senior Desi
Member since: Jun 05




Posts: 5733
Location: God's own country

Aadhaar
Once you apply for an Aadhaar card, you will get an acknowledgement slip. Once you get this you can download a digital aadhaar in 2 or 3 weeks online.

Even I still donot have a original Aadhaar card though I applied for a address change 4 months before. I am using a downloaded color copy.

To get your Aaadhaar online, a OTP will be sent to the Phone number that you gave for your Aadhaar card. So keep that in mind. My friend in Australia says that he is getting OTP's in Australia for SBI Netbanking. So research on that.

Murali

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Post ID: 236463 28-12-17 09:30:29
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ChandraGupt
Desi
Member since: Dec 14




Posts: 59
Location:


Quote:
Originally posted by tamilkuravan

Once you apply for an Aadhaar card, you will get an acknowledgement slip. Once you get this you can download a digital aadhaar in 2 or 3 weeks online.

Even I still donot have a original Aadhaar card though I applied for a address change 4 months before. I am using a downloaded color copy.

To get your Aaadhaar online, a OTP will be sent to the Phone number that you gave for your Aadhaar card. So keep that in mind. My friend in Australia says that he is getting OTP's in Australia for SBI Netbanking. So research on that.

Murali



thanks TK, in order to do that
do I need a cell #(with international roaming) from India as adhar officials supposed to text me some OTP which I need to access to my Adhar card(online) , not sure what is OTP ?

thanks


 
Post ID: 236486 02-01-18 14:41:21
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MITRON
Desi
Member since: Sep 17




Posts: 78
Location:


Quote:
Originally posted by ChandraGupt

Quote:
Originally posted by tamilkuravan

Once you apply for an Aadhaar card, you will get an acknowledgement slip. Once you get this you can download a digital aadhaar in 2 or 3 weeks online.

Even I still donot have a original Aadhaar card though I applied for a address change 4 months before. I am using a downloaded color copy.

To get your Aaadhaar online, a OTP will be sent to the Phone number that you gave for your Aadhaar card. So keep that in mind. My friend in Australia says that he is getting OTP's in Australia for SBI Netbanking. So research on that.

Murali



thanks TK, in order to do that
do I need a cell #(with international roaming) from India as adhar officials supposed to text me some OTP which I need to access to my Adhar card(online) , not sure what is OTP ?

thanks



OTP is One Time Password. Usually a 4 digit number like 1234 etc which they
Text / SMS to your Indian Cell phone number.

You can bring your Indian Cell Phone to Canada it will roam on Rogers, Bell,Telus etc.

ONLY Incoming text are FREE even in Canada on Indian Cell Phone. Even Incoming calls are NOT free and ridiculous international roaming charges will be charged.

But DO NOT make any outgoing calls, text or even take Incoming Calls in Canada on your Indian Cell phone they are ALL chargeable at a very HIGH rate.

Keep the phone switched off in Canada. Once a day just turn it on to see if any OTP has arrived or not via SMS/text. Then turn off the phone.


 
Post ID: 236487 02-01-18 20:44:40
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Full House
Senior Desi
Member since: Oct 12




Posts: 2311
Location:

Digital AAdhaar

Quoting of Aadhaar is now mandatory for performing many important tasks. *"Are you aware that you can also receive a copy of your Aadhaar card in digital form?" You can use the digital Aadhaar to access your details - such as the UID or unique identification number - as well as to keep a record for your own use. The UIDAI or Unique Identification Authority of India has provided an online facility on its website - uidai.gov.in - which enables users to get a digital copy of Aadhaar. The 12-digit identity number (called Aadhaar) based on biometrics data is issued by the UIDAI.

Here's how to get the digital Aadhaar online through the UIDAI website:

Once on the UIDAI website homepage, find and click on the 'Download Aadhaar' link. You can also access the 'Download Aadhaar' or 'E-Aadhaar' tool by clicking here

https://www.ndtv.com/business/downloading-a-copy-of-aadhaar-card-here-is-how-to-do-it-1749730


Hope this helps..


FH.

-----
Quote:
Originally posted by ChandraGupt

When the market peaks, just sell the Mutual Funds then put the money in a Fixed Deposit and/or Savings Account to avoid such hassles in future. Especially since what most of the stuff you are doing is illegal.

in that case if i cash my M(in end of Feb-2018) without showing them any adhar card?--will they(Mutual fund company) still charge 30.5% tax ?
& if i put this money in Fixed deposit under NRO/NRE -do i have to pay 30.5% on the interest income i will make thru deposit ?

sorry i am ordinary investor not familiar with these new law's .

I wish i can do everything honestly--but stuck because not knowing that i supposed to inform mutual fund company--thought govt of india already know everything as they gave us OCI.

I appreciate hard work of Modi Government for bringing transparency in Indian economic system but seems like ordinary investors like me will suffer more :down:





 
Post ID: 236491 02-01-18 23:49:26
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Contributors:
ChandraGupt(7)  elmer fudd(1)  Full House(1)  MITRON(6)  rajcanada(1)  tamilkuravan(2)  
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