Nre status

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 October 2011 I'm a salaried person & moving to USA at the end of Oct'2011 & planning to return toward end of next year. I've not gone to USA in last 2 years. I've following 3 questions based on the same -

1) Can I open a NRE account in F.Y. 2011-12?

2) How can I invest through NRE account in Fixed deposit? Will the income be taxed on such investment in India or USA?

3) How can I invest through NRE account in Equity? Will the income be taxed on such investment in India or USA?

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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18 October 2011 1. Yes

2.The Income shall be taxable in both the countries however, credit of TDS can be claimed.

3.Shall depend on the type of gains being earned.

Anuj
+91-9810106211
femaquery@gmail.com

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