How NRIs in US, Canada are taxed on capital gains from Indian MFs7 min read 28 Nov 2022, 11:01 PM IST
The rules pertaining to taxation of income from Indian mutual funds in both US and Canada are complex.
A non-resident Indian (NRI) — a citizen of India residing outside the country, defined as per the Foreign Exchange Management Act (FEMA), 1999 — can invest in mutual funds (MFs) in India. The important condition is that one has to invest via an NRE- (Non-Resident External) or NRO- (Non-Resident Ordinary) denominated account of any bank in India.
Select your Category