Nre interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2012
My client who's an NRI has the status of R& OR for the PY 2011-12. Will his SB Interest & FD Interest be Taxable? The FD has matured before he became R & OR. Will this have any implications on the same to claim exemption ?
03 July 2012
Interest in NRE account is tax free and NRO account are taxable.
03 July 2012
Here the facts have not been correctly given by you, however my thoughts are:
The status of an assessee is checked as on last date of assessment year.
So if on last date of financial/assessment year the assessee is ROR then his worldwide income is taxable.
Anuj
femaquery@gmail.com
The status of an assessee is checked as on last date of assessment year.
So if on last date of financial/assessment year the assessee is ROR then his worldwide income is taxable.
Anuj
femaquery@gmail.com
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