Mohammed S
2008-03-02 00:26:06 UTC
In 2002 I paid 33.6% short term Tax on my shares sold in NRE account Known as Non Resident external account ffor NRIs. Another account is called NRO which allows business in India but need normal Annual return and tax payment. NRE Tax was deducted at source. When I objected to it. I was given a strong dose that it is statuary order to deduct at source. If you have objections Hire CA and claim refunds. I got fadeup and abandoned shares trading. Therefore lost many shares and opportunities when the market was reformed to match international standard, I remained reluctant to re-enter. Some CAs must be reading it but they do not come forward to guide. I am looking for reliable paid services not free