Moving Money steadily from US to India after R2I
Posted: Tue Aug 31, 2010 6:51 am
Experts
I have a bank account with a small local bank here in US which is linked to a few brokerage accounts. I plan to trade thru those brokerages even after I R2I.
I send money from this account to my parents SBI in India for monthly expenses as well.
Can I continue to remit money from my US account into that India account of my parents or that would not be permissible since I will not be an NRI after RNOR period.
Also what are my options if I want a steady flow of money from US bank account that does not hit me with special taxes etc later after RNOR period is over?
I have a bank account with a small local bank here in US which is linked to a few brokerage accounts. I plan to trade thru those brokerages even after I R2I.
I send money from this account to my parents SBI in India for monthly expenses as well.
Can I continue to remit money from my US account into that India account of my parents or that would not be permissible since I will not be an NRI after RNOR period.
Also what are my options if I want a steady flow of money from US bank account that does not hit me with special taxes etc later after RNOR period is over?