invetment in mutual find out of NRE account

[d.v. gupta]

One of my client made investment out o his NRE account in year 2007-08. the proceed also deposited directly in the NRE account. whether amount of short term capital gain is taxable or not.

AI Summary

Clarification sought on tax implications of short-term capital gains from NRE account investments under Chapter XII provision. An individual inquired about the tax implications of short-term capital gains from investments made using an NRE account in 2007-08, with proceeds also deposited back into the NRE account. A respondent asked for clarification on the specific provision of Chapter XII that applies to the situation.