LR asked on 16/11/2020

If my friend or family member deposits money in my NRO Account, is it subjected to taxation?

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SBNRI Team
answered on 16/11/2020

Only the interest that you earn from your NRO Account is taxable. Therefore, the interest on the money that your friends or family will deposit will be taxable in India. Also, there are certain limitations and tax implications while accepting and sending gifts as an NRI.

 

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