Chittorgarh.com Logo
Loading...

Can an NRI invest in a mutual fund tax savings scheme?

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

Yes, NRIs can invest in Indian Mutual Funds including tax savings or ELSS schemes on repatriation or non-repatriation basis.

By investing in such schemes, NRIs can avail of a rebate up to Rs 150,000 per annum under Section 80C of the Income Tax Act 1961.

An important point to remember is that NRIs cannot purchase the units of mutual funds in foreign currency but only Indian currency from their NRE or NRO account.


Comments

Add a public comment...