04 January 2017
Suppose an individual having present status of resident claiming deduction u/s 80C for deposit in Public Provident Fund.. After becoming Non Resident Indian, can such individual continue to take the benefit of such deduction u/s 80C for deposit into PPF account. Kindly advise.
Further, whether such individual can avail exemption of tax free interest on NHAI/ REC bonds and interest on PPF on becoming NRI. Kindly clarify along with explanations if any with section reference. as per the provisions of Income Tax Act, 1961. .
CAclubindia
