C.A. Parin Poojara (Chartered Accountant) (90 Points)
04 July 2011Hello everyone,
i wann some advice.
My uncle-aunty living in abroad. And my uncle made some F.Ds in the name of my aunty. So watever interest income accrued to her shall b clubbed with my uncle. but they dont wann to club. So wat to do...??????? Whether gift given by indian relatives to her in abroad and from which if F.D. is made than whether such interest income shall b clubbed to my uncle?????????
praveen
(Chartered Accountant)
(6971 Points)
Replied 04 July 2011
I reckon your uncle - aunty are making FD in India. If they are making deposit in a Non Resident account then possibly they can get an exemption
valji
(Accounts manager-MBA)
(2150 Points)
Replied 04 July 2011
interest on NRi Deposit is exempt from tax under sec 10 for NRI but NRO deposit
but interest less offred by bank so you have to make the decesion whether you go NRI or NRI deposit
C.A. Parin Poojara
(Chartered Accountant)
(90 Points)
Replied 04 July 2011
Plz Noted friends,,, They are not making FD in NRO A/c.
valji
(Accounts manager-MBA)
(2150 Points)
Replied 04 July 2011
interest on NRi Deposit is exempt from tax under sec 10 for NRI
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