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.

[Mukesh Kumar]

Under which provision of Chapter XII you are falling in?

AI Summary

Taxation of short-term capital gains from NRE account investments hinges on the applicable Chapter XII provision. Tax treatment of capital gains from securities investments made from an NRE account, with sale proceeds repatriated to that NRE account, is questioned; specifically whether short-term capital gains are taxable, and the reply requests identification of the applicable provision of Chapter XII to determine the tax characterisation.