Posted on: 16-05-18 22:03:57
You can covert the funds from NRO to NRE without first bringing the money to Canada. You do require form 15CA and 15CB filled by CA though to do this conversion. If you bring in the money to Canada and send it back to India, you will covert the money twice and lose out on fee twice.
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Yes, that can be done and its easier too.
However, after giving it a more serious thought, and since I have now ruled out relocating to India permanently, its better to bring the funds over here and invest into some blue chip stocks for a long term. Hopefully, it will grow and provide a good supplement during the retirement years.
I feel its easier to keep a close watch on the investments & tweak/monitor it as and when required from here, rather than in India. Besides, you never know when they might change the rules for funds belonging to foreigners in Indian banks and what all hoops you have to go through to bring the funds over here in future.
Quote:
Originally posted by rajcanada
You can covert the funds from NRO to NRE without first bringing the money to Canada. You do require form 15CA and 15CB filled by CA though to do this conversion. If you bring in the money to Canada and send it back to India, you will covert the money twice and lose out on fee twice.
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sumjo
