Need A Financial Product › Forums › Tax Savings › Do I need to invest in IRA to save tax

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  • August 23, 2014 at 5:10 am #46997
    samkapoor77
    Keymaster

    I am OCI and is a citizen of USA. If I invest in NRO, then it becomes taxable. Is it wise to invest in retirement plans? Will you suggest me to invest in IRA? I am basically looking things from taxation point of view.

    August 27, 2014 at 7:48 am #46998
    samkapoor77
    Keymaster

    IRA is one of the good things to manage your investments. But you need to know the timing when you can withdraw your funds from it. Investing in IRA will not give you any tax benefit. You can seek guidance from financial consultant. You can think of opening NRE account, it is tax free in India.

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