Question
Which of the following statement is incorrect with
regard to Resident SB a/c opened jointly with NRI close relative? A.Cheques favouring the NRI close relative can be credited to this a/c B.Interest paid on such a/c is not subject to tax in India C.A/c to be treated as resident bank a/c for all purposes D.If NRI becomes survivor of such an a/c, a/c shd be categorized as NRO a/cSolution
Cheques favouring the NRI close relative cannot be credited to resident SB account. Also, interest paid on such a/c is taxable in India as per Income tax Act.
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