Hello,
what are the effects on demonetization on NRE Accounts? Are deposits equally effected in those accounts and liable to tax, if income was earned outside India and saved over period of time ?
Martin Schmidt (9 Points)
28 November 2016Hello,
what are the effects on demonetization on NRE Accounts? Are deposits equally effected in those accounts and liable to tax, if income was earned outside India and saved over period of time ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 29 November 2016
Are you planning to deposit any cash (old SBN notes) to your NRE account?
If no, then no effect of Demonetization on NRE acct. for time being. Long term effect of reduction of interest rate may be seen.
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