If it is a NRE account. I had bought stocks before leaving from India. I would really appreciate if could answer these questions for me. Dear Narayanan, Any remittances which you send to India, in convertible foreign exchange, which are the nature of gifts, would be exempt from gift tax. If you sell the stock purchased by you before leaving India, the profit would be taxable as short term or long term capital gains.
Interest earned on Deposits in foreign currency with a scheduled bank in India is exempt from tax.
Similarly interest on NRE account, FCNR and NRNR account is exempt.