POSTED BY January 13, 2013 6:33 pm COMMENTS (16)ON
I had a ppf a/c prior to my NRI stauts;which I closed about 2 years back upon completion of its tenure ( was
NRI by this time) & invested the funds in NSC.What should be done-shall I continue renewing the
NSC or retrieve the money on maturity & deposit in NRO a/c which then shall be subjected to 30%
Similary, I had invested in NSC in my children’s names before my NRI status but have continued to
renew them. Should these be continued to be renewed or again deposit the maturity in NRO a/c &
subject them to 30% tax?
Kindly advise any possible way to avoid the said taxation.