What are the charges levied by custodians for NRI investments? Can I use my NRO/SAO account to pay for services received in India?
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nro sao
- Can a resident Indian be a joint holder in an SAO account?
- What are the interest rates offered on NRO accounts? What are the interest rates offered on SAO accounts?
- Are there any transaction limits for online purchases made from NRO/SAO accounts? What are the security features for online transactions using NRO/SAO accounts?
- How can NRIs ensure smooth transfer of funds in their NRO/SAO accounts to their legal heirs? What are the rules regarding nomination and inheritance for NRO/SAO accounts in India?
- What should an NRO/SAO account holder do if they receive a notice from regulatory authorities regarding suspicious transactions? What is the Foreign Account Tax Compliance Act (FATCA) Intergovernmental Agreement (IGA) between India and other countries?
- What are the legal procedures involved in claiming funds from an NRO/SAO account after the death of the account holder? Are there any double taxation relief mechanisms available for inheritance of assets held in India by NRIs?
- What is the Common Reporting Standard (CRS) Multilateral Competent Authority Agreement (MCAA)? How does the CRS MCAA impact the reporting of information related to NRO/SAO accounts?
- What are the reporting requirements under FCRA for recipients of foreign contributions? What are the Know Your Customer (KYC) requirements for opening and operating NRO/SAO accounts?
- Do banks offer dedicated relationship managers for NRI clients with NRO/SAO accounts? What are the typical turnaround times for processing transactions in NRO/SAO accounts?
- How do FATCA and CRS impact NRO and SAO account holders?
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