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      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/c
      A Only A Correct Answer Incorrect Answer
      B A and B Correct Answer Incorrect Answer
      C only D Correct Answer Incorrect Answer
      D A and D Correct Answer Incorrect Answer
      E All of the above Correct Answer Incorrect Answer

      Solution

      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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