Home page

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

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

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

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

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? Comment from : Vidya sagar Rasetti

You are running one of the Best channels on Finance advice Thank you Comment from : sjaswants

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? Comment from : Ashutosh Kumar

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

All videos from your side are quite informative & useful to lots of NRIs & others It’s a great service to all such tax payers brbrRao ji Could you please confirm if interest income on FCNR deposits of RNOR status is taxable in India? Many thanks in advance!🙏 Comment from : Manmohan Sharma

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? Comment from : Anju Sharma

I dont think they are right hereNever NRE remittances questioned unless its really really big Comment from : Kumar s

Please advise about salary received by seafarers aa salary directly into nre account Is it taxable? Comment from : mohit murali

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 brbrbrHow does one leave a good legacy behind like this, and money not be missing due to corruption Comment from : manaohar sam

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 Comment from : Mohammed Abdulazim

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 Comment from : P Pen

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 Comment from : ramesh parasuraman

How do I contact Mr Sriram Comment from : pka durai

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 Comment from : Sukhdev Singh

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 🙏🏼🙏🏼 Comment from : Varsha Singh

All NRIs please note that , if you have NRE FDs and are getting interest ,it is taxable My bank Manager asked me to show the amount while filling IT My auditor also tells me it is necessary to pay tax for interest from NRE FDsbrIt's confusing Comment from : Prijo TV

Hello! Very informative video :) brHad a query -brIf 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? brAny help would be appreciatedbrThanks in Adv Comment from : Chaimpion

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 Comment from : CS

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? Comment from : yogesh sodah

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 Comment from : Avneet Kaur

Dear sirbrCan we move Indian income from NRO account and park it in NRE fixed deposits using Form 15CabrThis way we can save tax on interest Comment from : rajiv narula

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 Comment from : Z

Please reply to my question as im in need Comment from : travelling for peace

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 Comment from : travelling for peace

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 Comment from : vidya rao

It's so rediculas to tax the salary directly deposited by your employer to your NRE account India has the worst income tax laws Comment from : vidya rao

Great Information Thank you a lot I am an NRI since long but was not aware of rule of transfer directly by third party Will take some measures on some such payment our company makes brbrSir, Actually I was looking for answer for whether is there any threshold / limit on remittance amount above which Tax department raises query or any return / reporting an NRI has to file?brbrWould be thankful if you can clarify on this Comment from : Dharmendra Shah

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 Comment from : James Manohar

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 Comment from : sonik

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) Comment from : Belagur Krishnamurthy Venkanna

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 ) Comment from : Rags

Very nicely explained All doubts are clear 👌👍 Comment from : Sachin Ingle

HOW ABOUT I OPEN NRE ACCOUNT IN NEWYORK BRANCH USA ????? AND MAKE FD IN USA !!!! Comment from : Arunkumar Mistry

Hello sir,,, I am taking loan from my NRI friendbrWhat are the rules and regulations that I should take while receiving money Comment from : Prakash P

you could have covered transactions from NRE to NRO account Comment from : AK Prajapati

Excellent discussions Comment from : Neha Singla

Thanks for the good information Comment from : Akbar Basha

Thanks for the insightful videos brI have one question - My brother is employed since May 2022 by a Dubai company and he is based in Saudi Arabia using a Business visa In between, he visited us for 15 days during the Eid break and also went to Dubai for a few days to satisfy the business visa requirements He is not having Iqama so he receives all his money in an Indian savings bank account directly from the employer brQ1 Will he be considered an NRI from a taxation point of view? brQ2 If yes, will his income be taxed in India even though he is an NRI and in Saudi Arabia, there is no Income tax? Comment from : Vinay Gadiya

I haven't changed my account to NRO or NRE, it is still Saving Do I need to change it ??? Comment from : Ayaz Herekar

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 Comment from : Flute Aanand

Appreciate your workThis is really ridiculous very complex tax rulesFinally last words giving reliefPls don't take it as negative Comment from : sk g

Thanks a lot Simply understand Comment from : koya koya

I opened my NRE a/c without a PAN card, how will the ITD know of the money? Comment from : Dr Joy

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 Comment from : OLdupa

pls help me , if I transfer money from my country to my india wife' s NRE account , will this transction attract tax??? Comment from : judith chen

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 (@ 104) 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 ? Comment from : Subodh Patwardhan

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

There is some misunderstanding, in the intial video it says Funds can be received from overseas or any other nre account But it doesn't seem right, funds can be transferred from NRO account as well Could you confirm on this ? Comment from : Roshan Shah

Hi good explanations,but there are some clarification in my case can you please give me your valuable information brI 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 brDo I need to pay income tax ?brLooking forward for your valuable reply brThanks Comment from : Charan Kumar

Thanks for information sir। It's great ☺️ Comment from : हरी दास

How much money or loan one can buy NRI Comment from : Balwinder Singh Hundal

Sir which is the best bank for seafarers? Thank you Comment from : Akzz197

I have an NRE savings/FD account in india Is there a clause where interest earned above 15 lacs on an NRE fixed deposit is subject to tax? Comment from : @lfi c

Sir, can we directly send money from uae salary account to nre account, without any commission? Comment from : Lijin Lichu

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 Comment from : Minesh Pangam

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

If i take ULIP schemes from NRE and paying more than 25 L per year as premium, what would happen for the money on maturity? will it be taxed even if I get it in NRE? or is there are TDS getting deducted already by the scheme giver? Mostly I want to have an understanding of current updates on Tax law 10(10D) Comment from : Jyotirmay Senapati

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 Comment from : AK

Thank you sir it was valuable Hope your next ,,,,,,, advise Comment from : koya koya

@Sriram Rao Hi! Thanks for posting informative videos wrt FEMA and income tax this is great source of information for people who do not have adequate knowledge of the same I would be glad if you could help me understand what would be the position of an individual {and his business in India}who is having a proprietary business which is registered under gst upon consequent change in his residential status to NR furing the year? If you have a video on the same please pin it here Comment from : Kalpana

one more which says otherwisebr gtw3grantthorntonin/assets/T/GT_Tax_Alert_Salary_received_in_NRE_account_not_taxable_on_receipt_basis_if_services_rendered_outside_India_ITAT_Kolkatapdf Comment from : Mukesh Singhal

If I am transferring my money from my foreign account to my normal Indian savings Bank account(not an NRE account) if it comes under taxable? Comment from : pradeep Devakottai

I am really not sure it is true sir May be true for middle East where no income taxes I know many of my NRI friends working in other countries who have given instructions to employee to send USD salary directly to NRE account Can you clarify? I also read on Google few cases in India where court said that just because of direct credit it does not become Indian income Comment from : papu guru

Very informative brI have a doubt brbryou can transfer funds from an NRO account to an NRE or Non-Resident External account The Reserve Bank of India allows the transfer of funds up to USD 1 million a year from an NRO to an NRE accountbrbrIn future the income from this transferred money (in NRE account )is taxable ? Comment from : Suresh Mangalath

I have a question regarding NRE account Suppose we book a flat in India by paying 5 lakhs as token money from my NRE account Say after 6 months I decide to cancel the flat booking How does the flat-builder return my money to my NRE account? Comment from : jaspal kaur

Please advise if there is any video wherein u cover tds applicable to NRI if we sell property Comment from : Jagjit Kohli

Sir , what about term deposit made when some one was NRI , but before maturity person becomes normal resident , do we have to break the term deposit made and transfer money in Indian accent ? Comment from : Narender Kalwani

Sir , I am NRI living in Bahrain where no income tax is given I have around 30 lakh income from only my NRE saving and NRE fixed deposit accounts in India I am in confusion that whether I have to declare my self as Deemed resident or I can mention NRI on the basis of earning of NRE acounts which excedded 15 lakh Please clarify Comment from : Sanjay Chaubey

Thanks- can you give reference to the article (RBI or other ) based on which you are interpreting that money coming to NRE account directly from employer is taxable ? Comment from : Jyoti Prasad Painuly

NRE a/c opened in PNB Due to poor response and also distant location We intend to open NRE a/c in nearby another bank Can we close existing a/c and open another one In that case remaining amount, can we transfer to new a/c Comment from : RS GAUBA

Your Information might shake concepts of lot of people who get part of there income in NRE accounts but it is fairly contestable in court room provided taxes are already debited in Origin Country eg : gtw3grantthorntonin/assets/T/GT_Tax_Alert_Salary_received_in_NRE_account_not_taxable_on_receipt_basis_if_services_rendered_outside_India_ITAT_Kolkatapdf and there is a huge population who receive that income in NRE Account directly from employer (As it is convenient and have less pain to deal with multiple banks and save lot of transaction charges too) Comment from : Ankur Singh

Thanks Mr Bhatt one question is, can I deposit money in my NRE account, by sale of my property in India or should be in NRO and for how much period? Comment from : Cool Vibes

Thank you for the explanation What happens to the interest income from the NRE Account if we return to India and file the Income-tax return as Resident Will the interest income be exempt or do we have to pay tax on that? Comment from : Hitesh Miglani

thank you very much for taking up sailors issue Comment from : Arunketu Seth

Thanks for the video and cleared some of the doubts However, as mention, if the income coming to customer NRE account directly from the employer account will incur tax lability in India Appreciate if you advice Which section of the IT act , this is applicable As remedial action as per the video, The Double Tax Avoidance Agreement as some countries have this agreement with India , not all Thanks Comment from : Rakesh Harjai

Website is not working Dr Bhatt Comment from : Milochanzy, Yo!

Only few such videos and knowledge is available on this topic throughout the internet Thanks for sharing in detail Comment from : prashant ahuja

Sir, If I need to invest in a friend's start up company in India, is it better to transfer funds from NRE or NRO , to the Company's account to avoid any hassles ? Comment from : Gerard Rocks

Nowadays NRIs are not interested to invest in India brbecause of rupee value decreasing It is a losing proposition Comment from : Koteswara Rao Swarna

Is the NRE account interest taxable in the other country of residence? For example, an NRI working in Singapore has NRE account and FDs earned interest which is tax-free in India but will this interest be taxable in the country of his residence Singapore? Comment from : Aparna Mehra

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 Comment from : Yuvraj Rathore

I am sure many NRIs, employers don't know about NRE account funds tax treatment explained here and are getting directly salaries / fees in their NRE accounts But the logic still not clear why the tax authorities can question the salaries/ fees earned outside India,when I can show documentation Even many CAs in India are not aware of this information! Comment from : Somswar rao c

Let's say my NRE account balance is Rs X lakhs, after return to India converted it to regular savings account, remained resident for 2yrs adding Rs Y lakhs (credited) in this resident time Now i am going out of India, becoming NRI Only option i see is convert this Regular Savings to NRO (having Rs X+Y lakhs - any debits)brbrQuestion: while opening NRE, how can we get that initial X lakh from above NRO to new NRE account Comment from : Idam West

Thank you so much for the information … I live in dubai and you have given exact situations and explained!!! Comment from : Shubham Kasar

Me and my husband both NRI and he transferred some amount to my own NRE account from our joint NRE account in other bank last year I opened few NRE deposits on my name and received note from income tax to explain SFT transactions Pls reply,if interest from these NRE deposits taxable in India ? Comment from : Marina Trk

Hello one question suppose A working in USA who is NRI , he recived money from UK directly in NRE account in wheather he need to pay tax on income from UK? Can A who had visa of USA can work in uk? Comment from : Gajanan bhavsar

If person not pay tax in foreign and he need to pay tax on money which send to nre account Comment from : daljit Dhaliwal

why all such unnecessary complications? now one can operate netbanking from anywhere in the world Comment from : V Hari

Nice discussion, as always brI have 2 situations where NRE Income arises:br1 NRE FD/RD interestbr2 Maturity/Annuity of insurance policies whose premiums were entirely paid from NRE accountbrWould be thankful Comment from : Animesh Das

Very Complicated tax system in India 🇮🇳 Comment from : M MMubeen

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

HOW TO TRANSFER FUNDS FROM NRO TO NRE ? CA SRIRAM RAO РѕС‚ : NRI Money Clinic Download Full Episodes | The Most Watched videos of all time

AADHAR CARD FOR NRIS - ALL THAT YOU NEED TO KNOW - CA SRIRAM RAO РѕС‚ : NRI Money Clinic Download Full Episodes | The Most Watched videos of all time

Should NRIs Pay 20% Tax On Repatriation Post 1st July 2023 ? - A Must Watch Episode For All NRIs РѕС‚ : NRI Money Clinic Download Full Episodes | The Most Watched videos of all time

What is NRO and NRE Account, How to transfer money from NRO to NRE Account РѕС‚ : CA Juraij Calicut Download Full Episodes | The Most Watched videos of all time

Repatriation Scheme For NRIs - 1 Million Dollar Scheme - By CA Sriram РѕС‚ : NRI Money Clinic Download Full Episodes | The Most Watched videos of all time

How to Transfer Funds From NRO to NRE? | NRO to NRE transfer РѕС‚ : Yadnya Investment Academy Download Full Episodes | The Most Watched videos of all time

NRE u0026 NROഅക്കൗണ്ടുകൾ തമ്മിലുള്ള വിത്യാസം | Difference between NRE u0026 NRO account. РѕС‚ : Money Talks With Nikhil Download Full Episodes | The Most Watched videos of all time

How NRIs With Earnings Abroad Can Transfer Money To India Using NRE, NRO Accounts РѕС‚ : moneycontrol Download Full Episodes | The Most Watched videos of all time

Transfer of Funds from NRO Account to NRE Account РѕС‚ : SBNRI: One Stop Platform for NRIs Download Full Episodes | The Most Watched videos of all time

Do Not Invest In India ! Is It The Right Decision For NRIs ? Every NRI Must Watch РѕС‚ : NRI Money Clinic Download Full Episodes | The Most Watched videos of all time