NRI Investing from Pune: Managing Money in India While Living Abroad

No — under FEMA rules, a resident savings account must be converted to an NRO account (or closed) once your residential status changes to non-resident. Continuing to operate a resident account after moving abroad is a compliance violation, even if unintentional.

Yes, both are available to NRIs through FEMA-compliant routes, typically operated through an NRE or NRO-linked investment account, though a small number of AMCs restrict subscriptions from NRIs in certain jurisdictions (notably the US and Canada, due to their own regulatory requirements) — worth confirming fund-by-fund.

Resident but Not Ordinarily Resident is a transitional tax status available for a limited period after returning to India, during which foreign income and assets generally remain outside the scope of Indian taxation — a valuable window for restructuring finances before becoming a fully taxable ordinary resident again.

If you have any India-sourced income above the basic exemption threshold — rental income, interest, capital gains — yes, an ITR filing is required regardless of whether tax has already been deducted at source, and filing is also how you claim a refund if TDS exceeded your actual liability.

Yes, through a registered Power of Attorney specifically authorising the transactions you want them to handle — an informal arrangement without documentation creates real practical and legal friction the first time a bank or registrar asks for authority on file.

The separate PIS designation was discontinued some years ago in favour of a more general permission route operated through a designated bank account — NRIs can still invest in listed Indian shares, but the account and reporting mechanics have changed, so confirm the current process with your bank rather than assuming the older PIS-specific rules still apply.

It matters more than most NRIs initially account for — returns that look strong in rupee terms can look quite different once converted back to your resident currency, especially over a multi-year holding period with meaningful rupee depreciation. It's a real factor, not a rounding error, when comparing an Indian investment to an equivalent one in your country of residence.

Ask for the registration number and check it yourself. A mutual fund distributor holds an AMFI Registration Number (ARN), searchable on AMFI's website; a SEBI-registered investment adviser has a SEBI registration number listed on SEBI's website; a PMS distributor holds an APMI registration. Money n Wealth is a distributor with ARN-121995 and APRN-07444, not a SEBI-registered investment adviser.