Readers
Questions/Answers Page
26
 Information
provided is for general knowledge only and should not be
deemed to be professional advice. For professional
advice kindly consult professional immigration advisors
or tax consultants depending on your personal situation.
This website is a one person operation, Please spell
check your questions as I normally just cut and paste
questions from emails. Answers to most questions asked
are usually posted within five days. Answers are posted
on this website and no personal emails are sent. |
Email questions to: V. K. Chand at:
question@nriinformation.com
Answers are normally posted in five days.
Q: Dear Mr V.K Chand,
Thanking you for kind help to NRI's and the information on your
web site is simple and use full.
Iam an existing LIC policy holder (started when I was in India).
Recently I became a Australian resident and having OCI card..
Can I continue with my existing policy or Do I need to surrender
my policy....my benefit from this policy is same ??
Your advice on the above is much appreciated.
Thanks
Cheers.....
Siva
A: I don't see any reason why your
existing policies would be cancelled if your premiums are paid.
You should notify your insurance company in writing your new
residential address.
Selling old paper
stocks in
India 
Q: Dear Mr. Chand,
We are holding several Indian companies stocks into paper
certificates. Now we're residing in US and US citizens. I've
stocks into several my family members names in total 4 members.
How I can sell them? What procedure I need to follow?
My 2 family members have OCI's while my sons
has no OCI status.
We will appreciate your guidance in this matter.
Regards, Sanjay
Hemini Pandya
A: To sell paper stocks in India:
-
You need to get a Pan Number
-
Open a Demat account
-
Use the required dematerialisation form to convert paper stocks to electronic format and deposited in your demat account. Just to give you an idea of a dematerialisation form, I am providing a sample form link HERE
-
Your bank where you open a Demat account or Broker should be able to help you complete all formalities. If you decide to use a broker be careful that you don't hand over the original stock certificates to them.
Q: Respected,
I am Australian citizen and having OCI.
My question is what
will happen with My father's agriculture land owned by him by
his earnings in Maharashtra? and land as heir?
I have Mother, one married brother and married sister in family.
Thank you or your kind help.
Vijay
A: Generally, One can will property they own form their own earnings to whoever they please. On the other hand if the property in question was acquired by inheritance; for example your father got the property from his father, then all children could lay a claim to the property as it originally belonged to their grandfather.
Property disputes in India can last
generations and takes a heavy toll on on concerned both
financially and mentally and if possible should be avoided.
Q: We are in UK and
planning a trip to visit India in December 2010. Can you
recommend any travel outfit that offers discount tickets to
India?
I have heard that their are some agents that have special
tickets exclusively for cities like Delhi and Mumbai. Any help
in this regard will be greatly appreciated.
John Durkin.
A: Can't think of anyone that I could recommend for discount air tickets to India. Your best bet would be to search online or try and pickup a local Indian community newspaper that are usually freely available in several Indian grocery stores. Local papers have advertisements that may include several travel agents offering discount fares to India.
December is actually considered a high fare month as far as air travel is concerned. Chances of getting a lower price is quite low due to the holiday season.
Using India Passport after acquiring British Citizenship
Q: Dear sir
I acquired British nationality last year, I haven't surrendered my Indian passport. I am planning to travel to India on Indian passport. I have indefinate leave to remain in uk stamp on my passport when I exit from UK I will use Indian passport and then to enter and exit India, this way my British passport is not in use at all.
do you think this will work? the only problem
I see with this is- if there is some sort of information
exchange between UK and Indian consulate about new citizenship
acquired.
Please advise.
regards
jay
A: Travelling on your Indian passport after acquiring British nationality is illegal. You probably already know this hence your question whether you can get away with this or not. My sincere advice to you is not to travel on your Indian passport but to surrender your Indian passport to the nearest Indian consulate in UK as soon as possible and get a passport surrender certificate.
Save yourself a lot of headache, fines and perhaps even jail time! if it is deemed you willfully tried to cheat the system. While you may save a small amount of money on the cost of an Indian visa, the risk is certainly not worth the money.
|
|
|