Good Afternoon Mr, Basavaraj
I am a 34 years old married NRI who has relocated from India by my company two years back. I have 2-3 mfs like Birla Sun life, SBI balanced , Franklin Tempelton where through SIP I am still continuing it. I have around 10 lakhs lying in my bank which is now a NRi/NRO account and my mother (57) who is in India is authorized to operate it.
I want your help to invest my money in mfs as I am not aware of the tax implications on maturity for NRIs.Should I go for mfs or my mother can withdraw the money and go for Fd from her account in other bank..Please suggest .
Without knowing the reasons and time horizon of that investment, how can I guide you?
This is just to grow my money which is there in bank saving account. I already have two flats and around 20 lakhs Fds. My company takes care of health and life insurance.I want my money to be invested wisely. I read your blogs and they are really useful. Here abroad I am little hesitant to invest my hard rearned money. Thanks for the honest and selfless service.
Hard earned money. Sorry typographic error .