Q92. Transfer of Residence - Moving back to India
Question: Dear sir/madam, I am a citizen of USA & have an OCI. My husband & I are planning to move to India in 2 phases. 1st move in October to get things set up (Move includes only basic every day items & cloths). 2nd move 6 months to one year later (household goods & furniture) What are the customs & duty implication? Where may I find the information I am seeking? Any help will be most appreciated. Thanks! Anamika Anjaan
Answer: You should consider using the transfer of residency route if you are planning to return and setlle in India. This will save you a lot of money in customs duties. Those taking transfer of residence are allowed to import personal and household articles, free of duty and certain other listed items, on payment of a concessional rate of duty.
The best part is that now those taking transfer of residence are no longer subjected to any minimum stay requirements in India. If they decide at some point of time to leave India, they can do so without incurring any penalties towards customs duties. Check my article on this website on transfer of residency.
See our article "Transfer of Residence - Moving back to India" on this website for full details. Information regarding customs duty charged in India for those returning to India for tourism or for permanent residence can also be found on the Government of India Central Board of Excise and Customs website. Update: Information on transfer of residency is also available in more detail in my book THE NRI GUIDE
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Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com