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Legal service India => Property laws => Topic started by: justjoined on March 18, 2015, 04:04:37 AM

Title: tax liability - legality - regular savings account -NRi india
Post by: justjoined on March 18, 2015, 04:04:37 AM
hi
is it illegal for someone to still hold regular savings account and not NRI account in india
even after becoming a permanent resident of some other country.
will there be any penalty if any audit happens.
the person in question here doesnt have any income in india and has a business abroad but maintain savings account in india with 15h form exemption for TDS
Title: Re: tax liability - legality - regular savings account -NRi india
Post by: advocate-lyngdoh on March 19, 2015, 12:02:04 AM
he should open an NRI account and transfer the amount there, if the earnings where coming from abroad.

But if the amount in the account was earned from India itself than no need.

you clarify this from the bank itself