NRI, resident can jointly hold an NRO account on ‘former or survivor’ basis3 min read 26 Jun 2018, 09:05 AM IST
Interest earned on NRO rupee account (savings or fixed) is taxable in India. In case of joint bank account, it is important to determine who is the real owner of the funds and tax the income arising therefrom accordingly
Can an NRI and an Indian resident jointly hold a non-resident (ordinary) or NRO account? Will the taxation differ if only the NRI holds the account?
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