News From Press How NRIs in US, Canada are taxed on capital gains from Indian MFs

How NRIs in US, Canada are taxed on capital gains from Indian MFs

Source: Mint Nov 29, 2022

A non-resident Indian (NRI) — a citizen of India residing outside the country, defined as per the Foreign Exchange Management Act (FEMA), 1999 — can invest in mutual funds (MFs) in India. The important condition is that one has to invest via an NRE- (Non-Resident External) or NRO- (Non-Resident Ordinary) denominated account of any bank in India.

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