Tax on interest earned on income by nri

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Ganesan Venkataraman (Querist)
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21 March 2018 Annual interest of about 3.5 lacs p.a on investment in India by NRI!

What will be the tax ?
What will be likely tax on such income earned in India & repatriated to USA!”

Is there any other way to minimize the tax!

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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21 March 2018 If the interest income is from NRE Deposits, then it is tax free in India

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K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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21 March 2018 If interest is from NRO Deposits, then the same would have been tax deducted at source by the Bank. The non resident has to file the return

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K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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21 March 2018 As for your third question, if the income is earned in India and is repatriated to the USA, the income is taxable in India fully. Remittance will not be taxed again in India as the tax would have paid already