DIRECT TAX
PRIYANKA AGARWAL (Student) (60 Points)
30 September 2017
Is interest income earned by NRI on his NRE or NRO account taxable on his returning INDIA?
14 Replies
Ashwin Kumar
(1234 Points)
Replied 30 September 2017
no. income earned outside india by a non resident is not taxable.....only such income which is earned in india , arise in india or deemed to be earned or arise in india is taxable
PRIYANKA AGARWAL
(Student)
(60 Points)
Replied 30 September 2017
intt income is earned in India..NRE acc is in india
Ashwin Kumar
(1234 Points)
Replied 30 September 2017
even though the account is in india if income earned outside india then not taxable
PRIYANKA AGARWAL
(Student)
(60 Points)
Replied 30 September 2017
Intt income is been credited by SBI .so it is earned here no..
Ashwin Kumar
(1234 Points)
Replied 30 September 2017
your question is if interest income earned outside india bought to india on his return to india who is an NRI is taxable or not ....right ?
Romil Davda
(Article)
(111 Points)
Replied 01 October 2017
Interest income from fixed deposits and savings accounts held in Indian bank accounts is taxable in India. Interest on NRE and FCNR account is tax-free. Interest on NRO account is fully taxable.
@ priyanka
@ priyanka
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