Nei tax
This query is : Resolved
Sujata Phatak
(Querist)
19 June 2021
Dear sir, My daughter is NRI she wants to invest in LIC's jeevan shanti by sending in GBPonds in NRO account. Whether interest is taxable in India or she should send GB Ponds in her NRE external account. Please guide me
Dilip Phatak
Dilip Phatak
CA R SEETHARAMAN
(Expert)
20 June 2021
Interest on NRE account is tax free. Interest from LIC is taxable in India if it's exceeding 2.50 lacs whether the payment is from NRO account or from NRE account.
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