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

This topic contains 1 reply, has 2 voices, and was last updated by  Pratima Singh 2 years, 3 months ago.

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  • #46997

    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.

    #46998

    Kunal Raut
    Member

    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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