ravi (senior accountant) (507 Points)
29 December 2011Whether NRE receipts when converted to NRO -whether they are taxable in India or they are treated as "Deemed to acrue or arise in other country" and are not taxable- pls suggest
If such receipts (NRO receipts) invested in term deposits in india and draw interest they become "Deemed to acrue or arise in india" if yes my question is whether such non-resident can file a return here for the income earned here?
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 30 December 2011
Yes that income is accruing and arising in India and return should be filed in India for the same.
Anuj
+91-9810106211
femaquery @ gmail.com
CAclubindia
