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Nre nro account after coming to Canada

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G

goyalneha60

Star Member
Aug 12, 2018
55
16
Hello all I have a question regarding converting my Indian savings account to NRE NRO. I am not planning to stay in Canada for more than 2-3 years. Do you think I should still get the account converted? Is there any harm if I don't do it? I got to know from a friend who is already a Canadian citizen and staying here since 10 years and didn't convert to NRE NRO.

Do I lose more money in taxes if I convert to NRE NRO and later again change it back to regular account after going back to India. Or are there any tax implications if I fail to do. Please help
 
goyalneha60 said:
Hello all I have a question regarding converting my Indian savings account to NRE NRO. I am not planning to stay in Canada for more than 2-3 years. Do you think I should still get the account converted? Is there any harm if I don't do it? I got to know from a friend who is already a Canadian citizen and staying here since 10 years and didn't convert to NRE NRO.

Do I lose more money in taxes if I convert to NRE NRO and later again change it back to regular account after going back to India. Or are there any tax implications if I fail to do. Please help
Click to expand...

No one really cares about all these things. Many continue to use savings account still. How do you think the govt will identify if a person holding bank account is within country / not ? They cannot go about verifying for all ...
 
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