Interest on fd is exempt for nre?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 Dear Sir/Madam,

One of my client has more than 3 lakhs as FD interest.

Can he claim exemption while filling return..?

Please revert.

Sandeep Dharar (Expert)
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23 June 2014 Maturity of FD is exempted, but interest is taxable.

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 Dear Sir,

Client has 7 FD's
and accrued interest for the same is Rs. 3,17,000
is this amount is taxable..?

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 He is NRE In F.Y 2013-14

Sandeep Dharar (Expert)
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23 June 2014 Yes dear this amount is fully Taxable.

Sandeep Dharar (Expert)
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23 June 2014 Till now it is Taxable if it is generated and earned in India.

Message likes : 1 times

Rupesh Jain (Expert)
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23 June 2014 income will taxable and he/she claim deduction if any u/s 80

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