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Residential Status Related Query
If an individual was NRI before and has a NRE account, then FD interest in NRE Account would be taxable if he is not a NRI now?
Replies (1)
Exemption under section 10(4) of the Income-tax Act, 1961 for interest earned on NRE account is available only as long as person is resident outside India.
Ref: proviso to section 10(4)
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