My brother got a job and went to Singapore recently. He wants to open NRI a/c .
1) Is it mandatory to close savings a/c in India to open NRI a/c??
2) I want to know the tax details of returns from E-Trading in NRE & NRO a/c
It is not mandatory to "close" the account - he can re-designate resident account as NRO and it is advisable that he opens a separate NRE accoutn where he can credit his earnings from Singapore.
Not able to understand- tax details of returns from E-Trading in NRE & NRO a/c - please clarify,
CAclubindia
