NRI Taxation

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madhu (Querist)
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03 July 2011 One of my client is a NRI. As the interest earned in NRE account of a non resident is exempt from tax, i want to know that is any other income reported in NRE account also exempt from taxation. my client has invested in some MF and has withdrwan from NRE account. Similarly, he has sold the MF and the proceeds are credited to the NRE account. In such a situation is capital gain taxable??? or income in NRE account is exempt???

Plzz help me out.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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03 July 2011 Cap gain from MF is exempt if the MF is equity oriented one
Otherwise it si taxable
Merely because investment is made out of NRE A/c the taxability does not change

CA MANOJ GUPTA
JODHPUR
09828510543

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madhu

madhu (Querist)
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04 July 2011 thank you sir

madhu

madhu (Querist)
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04 July 2011 sir can you please tell me how do we know that a mutual fund is equity oriented??
My client has provided me a portfolio report but it is not clear from the portfolio report whether the mutual funds are equity oriented or not??

kindly help me out!!

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