If the money sent to my NRE account is taxable?

No, any amount of money transferred to your NRE account in dollars is not taxable. There is no tax in India on the interest on NRE account. It may be taxable in case you qualify to be a resident in India, no matter you earned money in India or outside India. You will also be subjected to tax, if you receive income in India, even if you qualify to be a non-resident.

Note: The information presented here is generic and may not be accurate. Please consult your CPA, tax expert or tax attorney for specific tax advice and inquiries.Visit IRS Websitefor US tax information.

Most Viewed Answers

Related Articles

Go Mobile

Get the Best Exchange Rates, Important Remittance Information and
Special Promotion Alerts on the go! Download Our Mobile App on your Smartphone or Smartwatch.

google play apple app store