Funds Received In NRE Account May Be Taxable - A Must Watch For NRIs - CA Sriram V Rao

[@RkumarIyer]

Mr. Bhat and Mr. Rao. Your advise is not clear as some times I feel you guys lack the required knowledge on taxation and your viewers are being mislead. First ensure that both of you are clear and honest in providing clarity.

[@judithchen5673]

add english subtitles on all viedos , it will convient for foreigner to understand your talk

[@nehasingla5235]

Excellent discussions.

[@kamymehta]

Can a NRI, Indian citzen but a US resident can accept loan from a Indian friend in its NRO bank account?

[@anoopverma3167]

Is the tax free salary earned outside India is taxable india before being NRI status.

[@khajuriaarun8874]

U both great personalities have been doing great informative service to NRI. My question is ... If I being an NRI bring cash € in India and go to any indian bank to open NRE or FCNR or NRO a/c. Is this legal and do I need to declare at the entering airport in Indian or what else. . .. Pls guide ahead u both superemos for NRI's

[@sriramrao2514]

Depositing cash from India to NRE/FCNR is not permitted… cash deposit to NRO is permitted… however the source of it has to be proved on enquiry and if taxable then tax also need to be discharged at appropriate applicable rates

[@sriramrao2514]

As far as I am aware, carrying of cash across counties beyond specifically allowed limit is not permitted… I am not aware of these limits though,

[@khajuriaarun8874]

@@sriramrao2514 Sir, once when I was traveling to India I got a form in plane to fill up, which inuded one part immigration n the second part abt cash bringing in. Sofar I can remember cash amount exceeding 5000$ sholud be declared while entering India. If you know abt this rule, I'd this still in action?

[@vidyarao7930]

thanks for this useful video. Can I send one hundred thousand dollars to my NRE account and whether it is taxable by the bank as TDS please give me the answer.

[@noormohammed9599]

Sir thank you very much for this video. Actually I invested in MF as SIP through NRE Account and before one year period I redeemed MF but till Now money not credited to my NRE account please what is the procedure tu get my money back my money stuck somewhere I don’t know where. MF companies send emails that your redemption money is rejected. Please advise me to get out with this. Thank you

[@mmmohit5]

Please advise about salary received by seafarers aa salary directly into nre account. Is it taxable?

[@Just_forfun9140]

👍very good.

[@travellingforpeace1289]

What if I don't open an NRE account and I sent my money from abroad to my saving bank please tell me wt will happen

[@rajivnarula9854]

Dear sir Can we move Indian income from NRO account and park it in NRE fixed deposits using Form 15Ca. This way we can save tax on interest

[@muckadackalmathew9889]

Is there any tax implications when we externalize funds from NRE & FCNR accounts ?

[@mmmubeen3878]

Very Complicated tax system in India 🇮🇳

[@satyasharma3500]

Thank you very much for a very informative video. I am an NRI & OCI HOLDER. I and my two brothers have inherited agricultural land from my father. My elder brother who is resident Indian wants to sell his share to me. Is it possible? Can he gift his share to me? Thanks for your answer. Regards. SPS.

[@sriramrao2514]

Watch the video “NRI buying agricultural land” on this channel, you will get your answer

[@traptigupta74]

Hello sir, My husband is working as a seafarer, maintains his NRI timeline and salary comes in NRE account. And files his ITR. Is he bound to file ITR? I'm asking this because many of his colleagues don't file. Please enlighten.

[@sriramrao2514]

If he has taxable income in India, then he is bound to file ITR. FYI- his salary & NRE interest is not taxable in India… there is a video on filing of tax returns by NRI on this channel… watch the same and be guided

[@pratap153]

I have an Yes bank NRE account and one of my friend send me as a Gift to me in my NRE account as it was first time, I have received a forgein inward remittance message from bank but my relationship manager write me to revert that mail by saying it's my Salary. But it was not, it was a gift by my foreign friend. Now I am feeling I can be subject to scrutiny or they won't look at it as it was just 3 times in total and approx. 2000 euro. Should I be worry or tell the relationship manager about it? can it be done anything now? Thank you

[@AvneetKaur-hz8gp]

Do we need to pay taxes in the country we are residing in for the interest earned in nre fixed deposit? Note: I am not asking about paying tax in india but in the country person moved to.

[@CS-si8kl]

NRE FD interests are Tax Free for Indian tax purposes. But one might want to check their resident country's tax rules on world wide incomes

[@yuvrajrathore95]

Please note that the an important information provided in the video is incorrect - refer to Pramod-Kumar-Sapra-Vs.-Income-Tax-Officer-ITAT-Delhi case where it clearly says that just because income is received in a bank account in India for a non resident it cannot be taxable unless the source is Indian or the DTAA requires so. The example given in the video does not meet the criteria under section 9 of the income tax act and therefore is not the right interpretation.

[@sriramrao2514]

Hello… Hope you have watched the video fully… In the video, I have always pressed on the point that “MAY” & “MIGHT” when it comes to taxability of funds directly received in NRE. I am aware that there are several decision of ITAT and in some case even High Courts which held that under certain facts and circumstances it would not be taxable. I have specifically mentioned in the video also. Further, I would also like you to know that, this forum is suitable to talk technical. Otherwise, even I can talk section-wise, word by word and reading between the line, discussing about various case laws & nuances of them and interpretation of law etc.. but that would not give the desired result, which is to follow Principal of ‘PREVENTION IS BETTER THAN CURE’. When it comes to receipts from Salary earned from exercising employment outside of India, the courts have time and again held in favour of NR assessee. However, it is litigious. The department would always want to tax and assessee has to litigate to get desired result/outcome. But if assessee has options, then why cannot he exercise/practice the same rather than getting into complexities. This is the main intention of the video.

[@noushadch9624]

Yes, we have watched full. But there is already a verdict from ITAT.In recent judgement ITAT has held that only because the overseas employer paid salary into NRE account of the assessee in India, it would not imply that the income is taxable in India.. ABCAUS 3773 (2023) (06) ITAT. All viewers and subscribers of your channel expect a clarification / correction from you with reference to the foregoing verdict from ITAT.. Surprised Why not you accepting or discussing the verdict of ITAT. Why u stick with ur argument may / mught? We don't expect this from a CA professional.

[@shitanshudamania8226]

Agree

[@alitshariff]

and how about money made from doing business outside in a foreign country while being an NRI and then gets it remitted to the NRE account by the business owner? like a seafarer

[@ggbalaji27]

@@alitshariffit must be tax free

[@atulrane5765]

suppose salary comes into foreign account..then transferred to NRE..it is tax free. Now if entire amount is sent to NRO account, will it be under taxation? or it has no implications?

[@shamrao3954]

To explain better is that an employee must transfer from his personal account to India nre account, as this is treated as savings and then transfer to his nre account. Or else when an employer transfers directly to nre account of the employer then it is treated as receipt and hence taxed, is correct

[@vpm1136]

Is retirement funds received from overseas which are typically credited by Retirement board in respective country directly into NRE account in india, are there tax liability on that.

[@sriramrao2514]

Yes, it would be taxable in India… remedy may be available depending on facts and circumstances as explained in the video

[@laxmanrao193]

why modi policies were against growth. NRI were major source of foreign funds to Indian banks & investments in India. however the Government employees & politicians were sending hawala funds & coming back into India through FII s . Modi should concentrate on hawala funds going from India & coming through FIIs. But NRI were penalized. 1) Dual Membership. 2) No tax on NRI Investments & returns, since banks were not able to give even working capitals to MSME s, & farming sector, Transport Industry. NRI why make so many troubles to invest in Banks. Banks can be instructed the saving Banks can be converted to NRE Or NRI a/c. Give tax exemptions. Central Government barrowed 150 lac Crores, + Rs 70 Lac crores on Petrol price tax ( covering Gst petrol retail price can be at Rs 42 a Liter whereas Public Were paying Retail Rs 110/- ie 72/-per liter was taken away7) that means last 10 years 210 lac crores rupees where it spend no clarity to people. NRI should be given Dual membership. unemployment shouted up to 700%. during last 10 years. NRI life were very difficult where Indian government cannot provide in India. People going for their lively hood also being penalized. first control the corruption in Governments. remove punishment that who bribed. w/o bribe no work done in India. so citizens should be given liberty to file corruption cases. Government should take how many people insolvent by GST how it affected the people of India.

[@loydsouza3504]

Thanks so much for the wonderful videos that educate all of us. I have a question. Can my children who are Non Residents open NRE accounts in India and can I as an NRE and having an NRE account in India, transfer funds directly from my NRE account to my childrens' NRE account in India. And, would they have a tax liability. Hope to hear from you. Thanks so much.

[@vidyarao7930]

It's so rediculas to tax the salary directly deposited by your employer to your NRE account.. India has the worst income tax laws

[@arunantony9165]

Im a NRI seafarer maintaining my NRI status and I receive salary in my NRE account directly. I have not linked my AADHAR and PAN card, as per rules NRI is exempted from lonking. If my understanding is correct i dont have to link right?.

[@abhinavddn]

Excellent content Dr Bhat. Really appreciate the research you have put up into your videos. I make it a point to watch your entire videos even when on Ship.

[@mydigitalplanet28]

I have NRE account and very soon the RD of that account will be matured of around 12 lakhs and now i need to transfer it to my International bank account of Spain. will it be tax deductable by the spanish bank account or not?

[@SultanWaseemKhan]

If father and son working outside India and son sends some money to father in SB account or in Nro account, will it be taxable. Why you do not discuss these issue. You mention relative only. Please be specific about all relatives by naming them

[@VishalAgrawal-x7c]

Can you please, let me know that whether Interest earned on NRE account fixed deposit is taxable in your foreign country of residence (like Australia) as it may be considered as global income. If anybody else is aware about related rules, please let me know. I know, this interest is tax free in india.

[@varshasingh677]

Many thanks, sir. Amazingly explained and very helpful, as I had a lot of questions as a new NRI holder, the majority of which were answered by you both 🙏🏼🙏🏼

[@nutskishore]

Investing in India is full of catches. You will only end up losing your mind, having headaches and end up losing your money. Also there is the factor of devaluation of Indian Currency. 11:07

[@sukhdevsingh1577]

It is very funny if income earned abroad, credited in NRE accounts directly, is taxed by India.. as that fellow might have got deducted in earning country also.. it is double taxation... It is foolish.. India badly needs inflow of Hard cuurencies... and taxing any inward flow of funds is merely an act of foolishness

[@manaoharsam4211]

Let's say and NRI dies and wants to leave all his Indian NRE account to a good charity in India. How does he do it. What are lists of charities in India you can trust . Would prefer the money go towards children education at poverty level, or support schools who are unfunded for children . How does one leave a good legacy behind like this, and money not be missing due to corruption.

[@santanodcosta3360]

Dear Dr Bhat..I have a Tax residence certificate issued from dubai authorities. Can i make use of it to avoid payment of tax if i sell my property in India?

[@NRIMoneyClinic]

No .. not possible. Capital gains tax has to be paid in India

[@iqhirani861]

IF THE FD (10L) IS FUNDED FROM NRE ACCOUNTS & GET THE INTEREST AT THE END OF MATURITY IN NRE ACCOUNT…IS IT TAXABLE? SHOULD WE DECLARE THAT INTEREST IN OUR ITR ?

[@iqhirani861]

IF THE FD (10L) IS FUNDED FROM NRE ACCOUNTS & GET THE INTEREST AT THE END OF MATURITY IN NRE ACCOUNT…IS IT TAXABLE? SHOULD WE DECLARE THAT INTEREST IN OUR ITR ?

[@ashokpatel5291]

Indian citizen getting pension After becoming american citizen will he receive pension .? Yes or no . Please reply

[@narindermediratta8942]

Incorrect information. Even if foreign employer t/f to Indian NRE account it is not taxable in India since it is taxable in sender country

[@rameshparasuraman9013]

How can Income received in NRE be taxable when a person is a non resident. It is clearly not income accrued or arising in india even though received in india . Does not make sense at all . There is no product or services rendered in india.

[@sinojkj3522]

Could you do a video on Whats are the possibility of living abroad with out becoming nre

[@sudhirgupta803]

NRI is paying taxes in foreign countries on income earned in that country In India I am paying taxes on income earned in India Is there any chance of any notice?

[@amirshaikh4133]

If an indian wins the Lottery or raffle draw in Dubai the value more then 1 core Indian money and he will transfer in his nre acc in India, then these money will be taxable in india

[@ppen8359]

In the nutshell, India is an illogical country where government will try to find ways to tax you even if you do not live or work in India.

[@rameshnayak700]

Ho can the income earned outside India by a non-resident Indian become taxable income in india?This wrong interpretation by ca

[@rahulsureja1599]

If you are NRI and you do have pan card and adhar card so we need to cancel them or keep it with us as a indian.

[@NimblePrerana]

3:38 NRE FD is taxed on their country right?

[@a.balasubramanianbala8500]

One of my clients is having business outside India and getting income in the name of Management Fees. He is doing some business in India too. He needs some funds for Indian business. If he infuse capital out of such foreign income, will it be taxable.

[@gopalkrishnaprabhu375]

What I understood and certain queries relating to the same are: 1. Remittance by self by debit to his/ her personal account maintained in the country of his / her residence I.e. person having residential cum employment visa in that country to which the employer credits his / her salary is treated as income earned abroad and remitted by self is not falling under the category income earned in India. If my understanding is correct whether spouse of NRI staying with him / her having bank account abroad and remitting money from.that account is considered as income accrued ( not earned ) abroad and eligible for credit to NRE account and does not attract tax Residential Visa status in the country of employment is the basic criteria. 2. Exemption is for sea fairies account since they do not have any residential visa issued not they live in India too . Kind of Trishanku status. Their income though remitted by their overseas employer is tax free income. Doubt: if the employer is a India based shipping company whether qualifies for NRE Aaccount ? 3. In gulf most of the NRIs do not maintain bank accounts and salary or wages disbursed to them in local currency of the country where they reside/ witk. They remit through exchange houses which are not banks. NRE accounts are opened by banks in India. Grey area : funds are not remitted by debit to NRIs overseas account. 4. As there is no restrictions on the amount of remittance from abroad by debit to his / her account with a bank abroad if such account is funded by business income or third party there other than employer what cheque IT authorities can have if the remittances are disproportionate to ones income ? Possible that individuals overseas account could be misused through funding by many who may be friends or non Indians which may facilitate money laundering Whether the concept of disproportionate wealth ( here balance in overseas account, ) to known income and remittance to NRE Accoubt is a possibility? The query is because bankers here may not be aware of NRIs monthly earning.

[@subodhpatwardhan8108]

Thank you for the informative vedio. I have recently redeemed my Mutual Fund investments and depending upon the source of Purchase, they are credited to my NRO & NRE acconts respectively. TDS (@ 10.4%) is cut on all redumptions as I am NRI. Now my question is, do these redumption amounts need to be considered to caluclate my agregate income and will that get taxed as per the normal tax slabs in India ?

[@pramoddsinghful]

You are running one of the Best channels on Finance advice. Thank you

[@vinnivincent7481]

If my nri friend send remittance to my nre account. Is it taxable

[@a.k.prajapati2469]

you could have covered transactions from NRE to NRO account.

[@Lamp141]

Hi please, What is the maximum daily or monthly ATM withdrawal limit from HDFC Bank NRE account in India?

[@NRIMoneyClinic]

You need to check with the bank

[@avijoshi7696]

Dr Bhat and Dr Rao, I maintain separate NRO & NRE accounts from my wife who in turn has both NRE/NRO accounts. We are not making remittances to our NRE accounts as we are well settled in Australia and have no intention to settle back in India. But from time to time we need to debit/credit our NRE accounts to keep the accounts from going dormant. So once in a while we transfer say Rs 100/- between our NRE accounts. In that case would the credit be considered income and become taxable? Thanks in advance.

[@sriramrao2514]

These are all self explanatory transactions between your own bank accounts or of your wife’s… will not be in the nature of inocme

[@noushadch9624]

In recent judgement ITAT has held that only because the overseas employer paid salary into NRE account of the assessee in India, it would not imply that the income is taxable in India.. ABCAUS 3773 (2023) (06) ITAT. All viewers and subscribers of your channel expext a clarification / correction from you with reference to the foregoing verdict from ITAT.

[@GhaLib-tj2oj]

What do you mean by ‘may be Taxable’???

[@srikanthpadava3834]

What would be tax exemption limit on a joint NRO account? Is it still 2.5 lakhs? For example if i have a joint nro account for me and my wife (both are NRIs) is the tax exemption limit 2.5 lakhs or 5 lakhs for this particular account?

[@monkeybaath2325]

After I retired for over 7 years, income tax is asking me proof that I remitted money from proper source from abroad. How can I provide proof of money remitted over 7 years ago? If the remittance was illegal, the bank where I held my NRE account should be aware of this ... as such the idiots in the income tax should question the bank ... perhaps the income tax people were fishing for bribes from me.

[@prakashp266]

Hello sir,,, I am taking loan from my NRI friend... What are the rules and regulations that I should take while receiving money .....

[@sriramrao2514]

Loan cannot be borrowed from NRI friend… it’s violation of FEMA… you can watch video on FEMA violation can be expensive for NRI, in this channel wherein CA Dhanush have been interviewed & be guided

[@prakashp266]

@@sriramrao2514 thank you very much for reply... Sir please tell me ,,, then how can I receive money from nri..

[@ProfMurty]

When an NRI returns back to India to settle down permanently, which is the case with me, when should my NRE deposits and NRE saving account be Resudent Accounts?

[@sriramrao2514]

FEMA rules specifies, that’s why sir…

[@prashantdevadiga6696]

Murty please never disclose. Enjoy your NRI status by visiting abroad every 6 months to meet the criteria. Ask your chartered accountants for loopholes and enjoy your honeymoon forever.

[@prashantdevadiga6696]

@@sriramrao2514 why no draconian FEMA rules for the corrupt and the highly placed.

[@ProfMurty]

@@prashantdevadiga6696 Travelling abroad cannot just keep your NRI status. You have to be outside India for more than 183 days in a Financial year to attract NRI status which is quite expensive.

[@RameshPatel-ph3ie]

Very helpful thanks😊

[@dayalprasadsuthar6799]

Great coverage in this session by you both CA Sriram and Dr. Bhat. I’ve NRE/NRO A/c in some banks in India. I transfer money in the A/c of my spouse to run the family and pay the expenses of schooling of kids. As I understood, it should be declared as gift. But, what’s the process to declare the gift? Also, should my spouse file the ITR even though, she doesn’t have any income apart from the money I transfer? I hope you’ll help me by addressing my query. Thanks

[@sriramrao2514]

It is self explanatory as GIFT… she need not file return of income, if this is the only receipt/income for her…

[@krishnaramachandran7722]

why? Transfer to your own account and give her the ATM card. This is what most people do.

[@sundarv1485]

Transfer to your joint account NRE /NRO instead of transferring to resident savings account . Debit card / checks / online banking will take care of expenses. This way you have transparency. Transfer from your joint account to joint account NRE is the way to go

[@krishnaramachandran7722]

@@sundarv1485 interest earned in NRO has a TDS of 30%. So NRE is the only option

[@seshuaiyar5047]

When a married man only earns? Then he is earning for the family so all money belongs to all members of the family? How can that be a gift?

[@philipkabraham8964]

Best thing is not to send money to India.

[@jamesmanohar694]

I have a Business in Dubai. If I earn a commission of say 100 million through a deal done through me, and I ask the company to deposit my commission amount in to my NRE bank account, will I be taxed for the amount recieved?? This is a bit confusing really, as I was told that money earned from outside of India, is tax free in India. Please clarify sir

[@srikanthpadava3834]

What would be tax exemption limit on a joint NRO account? Is it still 2.5 lakhs? For example if i have a joint nro account for me and my wife (both are NRIs) is the tax exemption limit 2.5 lakhs or 5 lakhs for this particular account?

[@travellingforpeace1289]

Please reply to my question as im in need

[@rags125ny]

What ever we earned FD intrest in NRE tax free in India but the same is subject taxable in the country where you live.. may be 25 to 30%..(I don't know why no body mentions that ).

[@sonik779]

I am an NRI for AY 2023-24.. do i need to file return of income if income from india is less than Rs. 1 lac (including capital gain from shares).. also i have regularly filed my return of income upto AY 2022-23 as a resident.

[@noushadch9624]

My friends working for a european company in Africa. Their salary remits from company account outside India to my Indian NRE accou 18:41 nt at the end of each month. (Not from an Indian company and not for the service/ employment in India). How is it taxable?

[@Sirene-sb6up]

Very misleading. NRI salary earned abroad and directly credited into NRE acc is no more taxable. But the expert mentions it as a thumb rule that direct credits are taxed by default. I like the host who has more clarity then the guest.

[@kumars9951]

I dont think they are right here.Never NRE remittances questioned unless its really really big

[@AnjuSharma-eo5cj]

Please if you can answer…if money received in NRE account is from the same person who is an NRI…like from my USA bank I am sending money to my NRE account…is it still taxable?

[@sanjaypatil5183]

Sir, Being low charges I transfer amount in my NRE account via western union (I pay to western union from my bank account in UK & western union transfers it in my NRE account in India. I guess this transaction is not my income in India, right?

[@nirpreetdhillon]

Hello sir, as you said that seafarer are exempted even if they receive salary directly in nre account in India. But how will tax department identify that a person is seafarer,unless they send notice to him first explaining the source of income and profession. Or they already know before in hand that a fellow is a seafarer and they don’t scrutinise further by sending notice to him

[@mohammedabdulazim5764]

An nri sells his property in India, say for Rs. one crore, can it be deposited to nro account without tds. Of course tax will be given on the interest earned later on as per FEMA rules. Please answer.

[@arulnathan632]

Usually salary is paid after tax deduction in foreign country. it is tax paid salary. So what is wrong then transferring the money whether it is the employer or NRI employee transferring ? If it is taxed in India also, It will be double taxation.

[@vicky-nc3to]

Thankyou I do not know what inspired you to make such videos, but these videos are very valuable to me.

[@Chaimpion351]

Hello! Very informative video :) Had a query - If I'm an NRI, living in country A on a dependent visa (because my husband is employed in this country) ; and I am working as a freelancer for a company in country B - who pays me directly in my NRE account in India (whenever I raise an invoice); Would I be taxed in India? Any help would be appreciated. Thanks in Adv.

[@sudhirkolhe7397]

Very informative video. But have one more scenario is money received in NRE account can be transferred to other payments with in India (e.g home loan repayment etc) or it should be transferred only via NRE>NRO>home loan repayment likewise?

[@yogisays09]

Question: Employer remits directly to NRE account, employee works in a location where he cannot open a local account being a high risk country or non availability of international banks at the work location? How would this be treated?

[@chetanpurohit5614]

What if someone take loan from Other contry bank in his local bank account then he transfer money in his NRE ACCOUNT in Indian account so is it non taxable right ?

[@vidyasagarrasetti7979]

If one of my friend planning for vacation to the country im staying, lets say thailand and instead of carrying local currency he can send money to my NRE account? In this case will it be taxable?

[@belagurkrishnamurthyvenkan694]

Very informative, in depth analysis/explanation. My question: My daughter is having NRE account in India. Can she invest in co operative Society FD through NRE account (Transfer money from NRE to co operative Society FD)

[@lsrinivasan4556]

If the income is already taxed in the country where NRI is living and after due deductions of tax in that country the employer directly credits in the NRE account. Then will it be taxed. Will it not result in double taxation

[@akumar62]

Sir, if money has to be transferred from a father's resident accout to a NRI daughter as inheritance under Will, is it better to transfer to the daughter's NRO account, NRE account or directly to her foreign bank account?

[@pkadurai3045]

How do I contact Mr Sriram

[@crazyworld6633]

Which section or rule or provision of IT ACT covers that money received in NRE account is not taxable in India?

[@AK-wj5nj]

When an NRI becomes resident, his resident bank account will be charged 30% TDS whenever foreign incoming transfer happens, so make sure all transfers are done before you become resident

[@floatinsun]

The direct debit to NRE account from outside india might attract tax because the govt thinks this is a way to avoid local taxation in your country of residence. Hence the gov of India wants subject that money to tax to prevent money laundering

[@vhari6045]

why all such unnecessary complications? now one can operate netbanking from anywhere in the world.

[@mineshpangam5537]

Sir I have one question ,I work uae and l want took loan and invest india share market so how much money can I transfer in my demat account through my nra account

[@Billionaireby2030]

Sir you have opened the eyes of many NRIs who are ignorant. I usually show your video to my colleagues who are indians.

[@lebijohn7631]

Both of you are so good and your explanations are very very clear keep up the good work Sriram is so knowledgeable

[@fluteaanand2072]

Thank you very much sir. It was useful, I have some doubts. 1. My employer pay my salary as cash only. I deposit that in my NRE account in India through an exchange every month. I hope this will not be taxed. In case if I want to earn through online trading like forex through a broker and I transfer money to them and earn money as a part time income. Is it taxed.

[@NRIMoneyClinic]

1. Not taxed For other clarification, please consult a chartered accountant

[@arunkumarmistry6614]

HOW ABOUT I OPEN NRE ACCOUNT IN NEWYORK BRANCH USA ????? AND MAKE FD IN USA !!!!

[@KiranKumar-gg7ff]

Can i do kyc online to start investing in MF & shares having NRE account

[@skg9539]

Appreciate your work...This is really ridiculous very complex tax rules...Finally last words giving relief...Pls don't take it as negative...

[@charankumar133]

Hi good explanations,but there are some clarification in my case can you please give me your valuable information I am working as a commissioning engineer/specialist for steel industries ,my company is based from Europe and I am travelling around the world depend on the project duration ,my salary is deposited in NRE account in India ,whereas I am not holding any account in foreign countries Do I need to pay income tax ? Looking forward for your valuable reply Thanks

[@sriramrao2514]

This is a little complicated scenario… if I have to give an answer from the point of view of given facts, if you do not become resident of any one country outside of India, then you might become Deemed Resident in India & RNOR… Hence, you may/may not end up paying taxes on this income in India, depending on other specific facts of the case…