Sandeep Sharjah mein kaam karta hai. Is Diwali par usne socha ki India ke achhe shares aur kuch mutual funds mein paisa lagaye. Bank ne kaha "PIS account kholna padega". Broker ne kaha "NRO se bhi ho jata hai". Dost ne kaha "mutual fund mein to kuch chahiye hi nahi". Teen log, teen jawab. Sach ye hai ki teeno kuch had tak sahi hain, kyunki route par depend karta hai. Chaliye ek-ek karke saaf karte hain, aur June 2026 ke naye FEMA badlav bhi dekhte hain.
Quick Summary
- Stocks ke liye teen raaste hain: PIS (NRE, repatriable), NRO non-PIS (non-repatriable) aur direct mutual funds.
- Mutual funds mein PIS nahi lagta; NRE ya NRO account se invest hota hai.
- 12 June 2026 ke amendment ke baad listed equity mein individual limit 5% se 10% aur aggregate 10% se 24% bataya gaya hai.
- Capital gains par tax: listed equity ka STCG 20%, LTCG 12.5% (₹1.25 lakh ke baad). TDS aksar poore gain par kat-ta hai.
- TDS final tax nahi hota. Excess hissa ITR se refund hota hai.
NRI Ke Liye Teen Raaste: Kaunsa Kab Chunein
| Route | Account | Paisa wapas le ja sakte hain? | Kiske liye theek |
|---|---|---|---|
| PIS route | NRE (ya NRO) bank account + PIS permission + demat + trading | Haan, taxes ke baad (NRE funds ke case mein principal aur profit) | Jo long-term mein foreign mein paisa wapas le jaana chahte hain. Trades aam taur par delivery-based hote hain, intraday nahi. |
| Non-PIS (NRO) | NRO bank + demat + trading | Non-repatriable. Paisa India mein rehta hai; NRO se bahar bhejne ki alag limit aur documentation hai. | Jo paisa India mein hi use karenge (family, EMI, property). |
| Mutual funds | NRE ya NRO bank account, AMC ya platform ke zariye | NRE se invest to repatriable; NRO se invest to non-repatriable | Diversified, SIP-friendly investing. PIS ki zaroorat nahi. |
PIS Account Kaise Khulta Hai
- Pehle NRE ya NRO bank account khulwayein (dekhein hamari NRE/NRO/FCNR guide).
- RBI se authorised bank ki designated branch mein PIS account/permission ke liye apply karein.
- PIS-linked demat aur trading account kholein (broker ke saath).
- Har trade bank ke through hoti hai, aur bank ye data RBI ko report karta hai. Isi se company-wise limits monitor hoti hain.
- Documents: passport, visa/residence proof, overseas address proof, PAN, photo, aur FATCA declaration. Exact list bank ke hisaab se badal sakti hai.
Update June 2026: PIS Ke Naye Niyam
12 June 2026 ko FEMA (Non-Debt Instruments) Third Amendment Rules, 2026 notify hue. Reports ke mutabiq badlav ye hain:
- Listed equity ke repatriable route par individual limit 5% se badhkar 10%, aur aggregate limit 10% se badhkar 24% (paid-up equity capital par).
- Ye facility ab sirf NRI/OCI tak seemit nahi, kisi bhi individual resident outside India ko di gayi hai, aur FPI registration ki zaroorat nahi.
- Jahan investment se kisi land-border wale desh ke citizen ya entity ko control ya beneficial ownership milta ho, wahan prior government approval zaroori hai.
Practical baat: banks aur brokers ke systems aur forms ko update hone mein waqt lag sakta hai. Naye limits par bharosa karke bada order dene se pehle apne designated bank se likhit confirmation lein.
Tax Kaise Lagta Hai (NRI Ke Liye)
| Income | Tax treatment |
|---|---|
| Listed shares / equity MF: STCG (12 mahine tak) | 20% (plus cess, surcharge lagu ho to) |
| Listed shares / equity MF: LTCG (12 mahine se zyada) | 12.5% sirf ₹1.25 lakh se upar ke gain par, bina indexation ke |
| Debt mutual funds | Gain slab rate par taxable. AMC aksar TDS higher rate (30% tak) par kaat sakte hain. |
| Dividend (shares) | Taxable; payer aam taur par 20% TDS kaat-ta hai (DTAA se rate kam ho sakta hai) |
| NRO interest | 30% TDS (plus cess) |
| NRE interest | Tax-exempt jab tak aap non-resident hain |
Ek aur zaroori baat: NRI ko Section 87A ka rebate nahi milta, aur ye sab rates FY 2026-27 mein bhi wahi hain jo Finance Act 2024 ne tay kiye the (Budget 2026 mein capital gains rates mein badlav nahi hua). Ye rates Income-tax Act, 1961 ke hain, jo ab Income-tax Act, 2025 ke tahat renumbered hain.
Worked Example: ₹4 Lakh Ka LTCG
Sandeep ne 2 saal pehle ke shares bechkar ₹4,00,000 ka long-term gain kiya (assumed number, koi aur capital gain nahi).
| Step | Calculation | Amount |
|---|---|---|
| TDS (aam practice: poore gain par) | ₹4,00,000 x 12.5% + 4% cess | ₹52,000 |
| Actual tax liability | (₹4,00,000 - ₹1,25,000) x 12.5% + 4% cess | ₹35,750 |
| Refund jo ITR se claim hoga | ₹52,000 - ₹35,750 | ₹16,250 |
Ye refund tabhi milega jab ITR file ho. Yaani NRI ke liye ITR sirf formality nahi, paisa wapas paane ka raasta hai. Kaun sa ITR form aur DTAA relief kaise lein, ye hamari NRI ITR filing guide mein hai.
Mutual Funds: US/Canada Waalon Ke Liye Extra Dhyan
FATCA ki wajah se kai AMCs US aur Canada ke NRIs ke applications accept nahi karte. Jo accept karte hain, unki list time ke saath badalti rehti hai, isliye apply karne se pehle AMC ya platform se confirm karein. Doosri taraf, US tax residents ke liye Indian mutual funds ko US tax law mein alag (PFIC jaisa) treatment mil sakta hai, jo kaafi mehenga ho sakta hai. Apne country ke tax advisor se ye zaroor check karein, kyunki sirf India ka tax poori tasveer nahi hai.
Common Mistakes
- NRE aur NRO account ko mix karna, aur baad mein repatriation mein dikkat jhelna.
- Resident banne ya status badalne par bank ko na batana, aur purane NRI account chalate rehna.
- Ye sochna ki TDS kat gaya to ITR ki zaroorat nahi, aur refund chhod dena.
- Naye 10%/24% limits ko bina bank confirmation ke maan lena.
- Debt mutual fund ko tax-free samajhna, jabki uska gain slab rate par taxable hai.
- Desh ke tax rules (jaise US) ko ignore karna, jahan Indian investments par alag reporting lagti hai.
Related Guides
- NRE, NRO and FCNR Bank Accounts Explained
- Capital Gains Tax on Shares and Mutual Funds
- Section 195: TDS on NRI Payments
- Dubai Shift Hone Se Tax Bachta Hai? Myths vs Reality
Frequently Asked Questions
Kya NRI ko India mein shares kharidne ke liye PIS account zaroori hai?
Agar aap repatriable basis par (yaani baad mein paisa foreign mein wapas le jaane ke irade se) NRE account se stock exchange par shares khareedna chahte hain, to PIS permission wala account chahiye. Agar aap non-repatriable route (NRO account) se invest kar rahe hain to PIS ki zaroorat nahi padti, par paisa India mein hi rehta hai (limit ke andar repatriation ke alag niyam hain). Mutual funds ke liye PIS lagta hi nahi.
June 2026 ke FEMA amendment ke baad ek NRI kitna hissa kharid sakta hai?
FEMA (Non-Debt Instruments) Third Amendment Rules, 2026 (12 June 2026 ko notified) ke mutabiq listed equity mein repatriable route par individual limit ab company ki paid-up equity capital ka 10% aur aggregate limit 24% bataya gaya hai (pehle 5% aur 10%). Is rule ka faayda ab sirf NRI/OCI tak seemit nahi, kisi bhi individual resident outside India ko mil sakta hai. Land-border wale deshon ke control ya beneficial ownership wale cases mein prior government approval chahiye. Aapke bank ya broker ke systems mein ye badlav lagu hone mein thoda time lag sakta hai, isliye apne designated bank se confirm karein.
Kya NRI SIP se Indian mutual funds mein invest kar sakta hai?
Haan, NRE ya NRO account se SIP chal sakti hai. KYC, FATCA declaration aur NRI status ka proof AMC ko dena padta hai. US aur Canada mein rehne wale NRIs ko kuch AMCs apply hi nahi karne dete, kyunki FATCA compliance bhari padti hai. Pehle check kar lein ki aapka chunna hua AMC aapke desh ke NRIs ko accept karta hai ya nahi.
NRI ke shares sell karne par TDS kitna kat-ta hai aur refund kaise milta hai?
Listed equity par short-term capital gain par 20% aur long-term par 12.5% (₹1.25 lakh ki exemption ke baad) tax lagta hai, upar se cess. Practice mein broker ya AMC aksar poore gain par TDS kaat leta hai, exemption ka hisaab nahi lagata. Jo tax zyada kat gaya, wo ITR file karke refund ke roop mein claim hota hai. Isliye har saal ITR bharna zaroori hai.
NRE account ka interest tax-free hai, to kya NRE se invest karne par bhi capital gain tax-free hoga?
Nahi. NRE account ke interest ki exemption alag cheez hai, aur wo tab tak milti hai jab tak aap non-resident hain. Shares ya mutual funds ke capital gain par tax India ke Income-tax rules ke hisaab se hi lagta hai, chahe paisa NRE account se aaya ho.
India aane ke baad (resident ban jaane par) PIS investments ka kya hota hai?
Aapki tax residency badalti hai, to bank accounts ka status aur investments ki reporting bhi badalti hai. Aam taur par NRE account ka exemption resident banne par khatam ho jata hai aur account ko resident account mein convert karna padta hai. Shares ya mutual funds apne aap bikte nahi, lekin unka tax treatment aur FEMA classification badal jata hai. Ye step hamesha bank aur tax professional ke saath plan karein.
NRI ke roop mein India mein invest karna hai ya purane investments ka tax review karwana hai? Hamari NRI Tax Services team capital gains, TDS aur ITR filing mein aapki madad kar sakti hai.
Disclaimer
Ye article sirf general jaankari ke liye hai aur October 2026 tak ke law par based hai. FEMA aur tax rules aksar badalte hain, aur har NRI ke facts alag hote hain. Invest karne se pehle apne bank, SEBI-registered advisor aur qualified Chartered Accountant se salah zaroor lein.