Hi Friends,
I have a problem and would be thankful if someone can give some advice.
I have been an NRI for the past 9 yearsa and I have sent money to india through my NRE bank account.
Problem - I have about 10 lakhs in cash in India(the source of the cash was sale of property in india).
If I have a PAN card can I invest this money in Mutual Funds? Will the fund houses or tax authorities create problems? (I have sent more than 10 lacs through my NRE a/c)
If there will be problems, what is the solution to this?
Please advise.
Thanking you in advance.
Sameer
I have a problem and would be thankful if someone can give some advice.
I have been an NRI for the past 9 yearsa and I have sent money to india through my NRE bank account.
Problem - I have about 10 lakhs in cash in India(the source of the cash was sale of property in india).
If I have a PAN card can I invest this money in Mutual Funds? Will the fund houses or tax authorities create problems? (I have sent more than 10 lacs through my NRE a/c)
If there will be problems, what is the solution to this?
Please advise.
Thanking you in advance.
Sameer