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After being an NRI for over seven years and experiencing the complexities of managing India's finances from abroad, Hemant founded iNRI in 2023, a digital platform dedicated to transforming the investment landscape for
32 million Indian expats worldwide. Leveraging his extensive background in technology and finance, Hemant successfully raised pre-seed funding of $500K from Y Combinator to bring his vision to life.
When he isn’t swamped with coding and strategizing at iNRI, you'll find him enjoying walks with his 1-year-old daughter. He cherishes the moments spent with his daughter, finding joy and inspiration in her curiosity and growth.
Hemant regularly hits the court for a game of tennis or escapes to trek through mountains and lakes. These adventures help him unwind, relax and find inspiration.
Yes, NRIs can invest in PMS in India. As per SEBI regulations, the minimum investment required is ₹50 lakh.
To invest in the Indian stock markets, NRIs need permission from the Reserve Bank of India (RBI). A designated PIS/Securities account is required for all secondary market transactions and must be linked to an NRE/NRO account.
DTAA helps NRIs avoid being taxed twice – once in India and again in their resident country.
How DTAA Works:
● India has DTAA agreements with many countries.
● If you pay tax on stock sales or dividends in India, you can reduce your tax in your resident country by presenting tax proof.
Benefits of DTAA for Equity Investments:
● Lower TDS Rates: Dividends and capital gains may attract lower TDS (10-15%) based on the DTAA agreement between India and your country.
● Avoid Double Taxation: If your country of residence taxes global income, you can avoid being taxed twice on the same income.
Example: If the DTAA agreement allows a 10% tax rate on dividends, TDS in India will be reduced to 10% instead of the standard 20%.
Income from the following is taxed-
● Dividends received
● Capital gains (short-term or long-term)
● TDS is applied when the income is credited to your account.
● If TDS is higher than your total tax liability, you can claim a refund by filing your income tax return.
● Taxation under the DTAA agreement with your country of residence may vary for each investor.
● It is recommended to consult a tax advisor for detailed guidance.
