Tweet
NRI Vs OCI
I saw your NRI info on net is too good. I have a query below. Could you please help? I'm an Indian born currently residing in UK from last 7 years holding Indian passport with ILR visa stamped. I am applying for a British Citizenship from next month. As soon I will get my British Citizen and then my next steps will be OCI.
What would be an impact of following points listed below if my status changes from NRI to OCI?
1. LIC Term POLICY or policy with mutual fund
2. Any Property which is under construction and ready for possession in next year.
3. Can I do the registry for that property as OCI holders?
4. If I decided to come back to India which means start working and earning in India? What would be the tax?
5. If I residing in UK and get any Income from India via property, where would I need to pay the tax.
6. Can children get the admission in School or College as an OCI holder?
7. What would be happened to my existing PPF account in India?
I understand that voting right and agriculture land would not be available for OCI. Please let us know if there would be any other impact. I would really appreciate if you could answers the above queries which would help me to decide whether I need to take OCI or leaving as a NRI. I feel that loosing Indian passport is a big risk and I want to get all the things clear before I got for OCI.
What would be an impact of following points listed below if my status changes from NRI to OCI?
1. LIC Term POLICY or policy with mutual fund
2. Any Property which is under construction and ready for possession in next year.
3. Can I do the registry for that property as OCI holders?
4. If I decided to come back to India which means start working and earning in India? What would be the tax?
5. If I residing in UK and get any Income from India via property, where would I need to pay the tax.
6. Can children get the admission in School or College as an OCI holder?
7. What would be happened to my existing PPF account in India?
I understand that voting right and agriculture land would not be available for OCI. Please let us know if there would be any other impact. I would really appreciate if you could answers the above queries which would help me to decide whether I need to take OCI or leaving as a NRI. I feel that loosing Indian passport is a big risk and I want to get all the things clear before I got for OCI.
