Investment in india

[kk8596]

I have an ICICI bank account( NRE type) in India. Can one of my family members having power of attorney withdraw money from my account and use it for investing in India ?

1) Will they have to pay tax on the money ( in Rs) they withdraw?
2) Or will they have to pay tax only on the interest they earn on that money?

Thanks.
kk

[soormabhopali]

You can give power of attorney .They can withdraw /operate account .
They can invest money .Tax depends on whom name is investment is on .In most of cases interest earned is taxable.If investment is on name other then you ,then they have to show this money as gift from you to save tax on principal otherwise that is also taxable .