Hi guys,
We are going to be canadian and planning to move back to india with OCI.
As per my knowledge, we will not have NRI status while living in India with OCI. We will be resident of India. Please correct me if I am wrong.
I have following questions.
1) Do I have to mention my citizenship status "Canadian" at all places and forms where it required? (like Income Tax Return, Open Bank Account, Investing money in KVP or mutual fund, property documents.....)
2) Do I have to pay more school fees for my son in compare of Indian Citizens?
3) Do I have to pay more income tax while working in India with OCI?
4) Can I invest in KVP, Agriculture land while living in India with OCI?
5) What other restriction can be applied to OCI while living in India? (Except vote, govt. job)
Thanks in Advance
-----------------------------------------------------------------
Success is Never Ending and Failure is Never Final.
Quote:
Originally posted by meitsme
Hi guys,
We are going to be canadian and planning to move back to india with OCI.
As per my knowledge, we will not have NRI status while living in India with OCI. We will be resident of India. Please correct me if I am wrong.
I have following questions.
1) Do I have to mention my citizenship status "Canadian" at all places and forms where it required? (like Income Tax Return, Open Bank Account, Investing money in KVP or mutual fund, property documents.....)
NO U dont HAVE 2 mention . Mention only if you see that foreign nationals / NRI's are being offered a priviledge
2) Do I have to pay more school fees for my son in compare of Indian Citizens?
NO since u dont mention that U R Canadian ..
3) Do I have to pay more income tax while working in India with OCI?
Absolutely not
4) Can I invest in KVP, Agriculture land while living in India with OCI?
No agriculture land please ( restricted )
5) What other restriction can be applied to OCI while living in India? (Except vote, govt. job)
That is pretty mcuh ...
Thanks in Advance
-----------------------------------------------------------------
Growing Old Is Mandatory ..Growing UP is Optional
School/College admission may be a problem for a foreign born. I think you might have to provide a birth certificate or last school attended certificate. If the authorities find out one way or the other that you are a foreigner then you are definetly going to be treated like a foreigner (pay like a foreigner).
-----------------------------------------------------------------
4z4z
Quote:
Originally posted by meitsme
Hi guys,
We are going to be canadian and planning to move back to india with OCI.
As per my knowledge, we will not have NRI status while living in India with OCI. We will be resident of India. Please correct me if I am wrong.
Quote:
I have following questions.
1) Do I have to mention my citizenship status "Canadian" at all places and forms where it required? (like Income Tax Return, Open Bank Account, Investing money in KVP or mutual fund, property documents.....)
Quote:
2) Do I have to pay more school fees for my son in compare of Indian Citizens?
Quote:
3) Do I have to pay more income tax while working in India with OCI?
Quote:
4) Can I invest in KVP, Agriculture land while living in India with OCI?
Quote:
5) What other restriction can be applied to OCI while living in India? (Except vote, govt. job)
Quote:
Thanks in Advance
Thanks for your reply.
i think whenever we open bank account or filing tax return, there must be the column for nationality/citizenship.
If I'll mention canadian, what about interest rate? (banks will treat me as an NRI for interest rate even if i'll have OCI?)
Thanks in Advance
-----------------------------------------------------------------
Success is Never Ending and Failure is Never Final.
Advertise Contact Us Privacy Policy and Terms of Usage FAQ Canadian Desi © 2001 Marg eSolutions Site designed, developed and maintained by Marg eSolutions Inc. |