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Income tax on nre assessee

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(Querist)
05 March 2016 DEAR SIR
PERSON IS NRI INVESTED AMOUNT IN INDIAN BANK IN FIXED DEPOSIT .AND EARN INTEREST THERE ON WORTH RS 3LACS IN F/Y 2013-14 WHETHER THIS INTEREST INCOME TAXABLE IN INDIA ?. HE IS HOLDING INDIAN PAN CARD . IT IS NECESSARY TO FILLED INCOME TAX RETURN IN INDIA ? PLEASE GIDE ME

THANKS

RAJESH NAGDA
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Saket Jain

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Saket Jain (Expert)
19 March 2016 Yes, Interest Income will be taxable and he need to file return. Interest Income on money deposited in NRE Account is exempt.

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