Dear Experts,
I am working in Saudi, I took home loan in indian private bank and the EMI is getting debitted from my Normal Savings Account in india.
I have opened a NRE savings account in HSBC Bank in Chennai.
Now I want to transfer my tax free money from saudi to my India bank account.
Just wanted to know, If I transfer to my India Normal savings account, Is it taxable.
In case if I transfer to my NRE savings account and then from NRE savings account If I transfer to Normal Savings account is it taxable.
Ideally I should change my EMI to my NRE savings account, but due to tidious procedures I could not do it immediately.
But as a NRI, how can i get rid of these issues.
Expecting your valuable advices.
Regards,
Malaya
CAclubindia
