GIFT City for NRIs: How to invest in India in dollars without rupee conversion - Why should NRIs consider investing through GIFT City?
· economictimes.indiatimes.com
GIFT City enables NRIs and OCIs to invest in India through an International Financial Services Centre (IFSC). Investments are made in US Dollars (USD), eliminating the need to convert money into Indian Rupees. However, investors should keep in mind the Liberalised Remittance Scheme (LRS) limit of $250,000 per financial year, which is cumulative across investments, travel, education, gifts and other eligible remittances. Why should NRIs consider investing through GIFT City?
According to Viram Shah, NRIs redeeming Indian mutual funds through the domestic route may face TDS deductions and may need to submit a Tax Residency Certificat...