NASDAQ · ETF
Invest in TAXI ETF from India
Indian and foreign residents can buy Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) units directly through Paasa.
By Paasa · Updated
TAXI at a glance
- Price
- $51.53+$0.37 (0.73%)
- Expense ratio
- 0.05%
- Day range
- $51.00 – $51.98
- Assets
- $358.8M
- Domicile
- the US
- Holdings
- 5,163
- Launched
- 2025
- Dividends
- Distributing
- 1 month
- +4.24%
- 6 months
- +0.60%
- YTD
- +0.38%
- 1 year
- +1.01%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1CASH1.3%
- 2BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV BDS0.1%
- 3NEW YORK N Y CITY TRANSITIONAL FIN AUTH BLDG AID0.1%
- 4SARASOTA CNTY FLA SCH BRD CTFS PARTN COPS 2023A0.1%
- 5BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV BDS0.1%
- 6SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY0.1%
- 7HURON VALLEY MICH SCH DIST GEN OBLIG UNLTD TAX0.1%
- 8CLARK CNTY NEV SCH DIST LTD TAX GO BLDG REF BDS0.1%
- 9TEXAS TRANSN COMMN CENT TEX TPK SYS REV REF BDS0.1%
- 10CONNECTICUT ST SPL TAX OBLIG REV TRANSN0.1%
TAXI holds 5,163 securities in total. These 10 are 2.2% of the fund.
Where the money is invested
Countries
- United States100.0%
How to invest in TAXI from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search TAXI and buy
Find the fund by its ticker, TAXI, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Why invest in TAXI from India
What TAXI holds
This fund aims to replicate the overall returns, both in price appreciation and income generation, of the ICE Intermediate Term Focused Municipal Bond Index, prior to factoring in its operational costs. It serves as an ideal choice for individuals seeking income that is exempt from federal taxes, sourced from a highly-rated, index-tracking municipal bond exchange-traded fund holding securities with medium-range maturities, typically between one and fifteen years.
Hold a dollar asset
TAXI is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one TAXI unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy TAXI from India?
Yes. Indian residents can buy Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) through Paasa. It is listed on NASDAQ and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does TAXI invest in?
Northern Trust Intermediate Tax-Exempt Bond ETF holds 5,163 securities. Its largest holdings are CASH (1.3%), BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV BDS (0.1%) and NEW YORK N Y CITY TRANSITIONAL FIN AUTH BLDG AID (0.1%). It is a distributing fund domiciled in the US.
What is the expense ratio of TAXI?
Northern Trust Intermediate Tax-Exempt Bond ETF has an expense ratio of 0.05% a year, taken from the fund's assets rather than billed to you. The fund manages about $358.8M.
How are TAXI dividends taxed in India?
Northern Trust Intermediate Tax-Exempt Bond ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell TAXI?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one TAXI unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $51.53, and there is no minimum trade size.
What happens to my TAXI units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.