Income tax on nre assessee

This query is : Resolved 

05 March 2016 DEAR SIR
PERSON IS NRI INVESTED AMOUNT IN INDIAN BANK IN FIXED DEPOSIT .AND EARN INTEREST THERE ON WORTH RS 3LACS IN F/Y 2013-14 WHETHER THIS INTEREST INCOME TAXABLE IN INDIA ?. HE IS HOLDING INDIAN PAN CARD . IT IS NECESSARY TO FILLED INCOME TAX RETURN IN INDIA ? PLEASE GIDE ME

THANKS

RAJESH NAGDA

19 March 2016 Yes, Interest Income will be taxable and he need to file return. Interest Income on money deposited in NRE Account is exempt.



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