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
- $49.11-$0.16 (0.33%)
- Expense ratio
- 0.05%
- Day range
- $49.11 – $49.17
- Assets
- $179.6M
- Domicile
- the US
- Holdings
- 2,724
- Launched
- 2025
- Dividends
- Distributing
- 1 month
- -3.09%
- 6 months
- -3.49%
- YTD
- -4.33%
- 1 year
- -3.18%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1CASH1.4%
- 2NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS0.4%
- 3HURON VALLEY MICH SCH DIST GEN OBLIG UNLTD TAX0.2%
- 4INDIANA ST FIN AUTH WTR UTIL REV FIRST LIEN REF0.2%
- 5ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV0.2%
- 6PALM BEACH CNTY FLA SCH BRD CTFS PARTN CTFS OF0.2%
- 7ILLINOIS ST GO REF BDS 2018 A 05/SEP/20180.2%
- 8SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA BDS0.1%
- 9ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV0.1%
- 10MARION CNTY FLA SCH BRD CTFS PARTN COPS 20240.1%
TAXI holds 2,724 securities in total. These 10 are 3.1% of the fund.
Where the money is invested
Countries
- United States98.6%
- Other1.4%
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 2,724 securities. Its largest holdings are CASH (1.4%), NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS (0.4%) and HURON VALLEY MICH SCH DIST GEN OBLIG UNLTD TAX (0.2%). 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 $179.6M.
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 $49.11, 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.