Benefits for deduction u/s 80c and exempt income to nri
This query is : Resolved
04 January 2017
Suppose an individual having present status of resident claiming deduction u/s 80C for deposit in Public Provident Fund.. After becoming Non Resident Indian, can such individual continue to take the benefit of such deduction u/s 80C for deposit into PPF account. Kindly advise.
Further, whether such individual can avail exemption of tax free interest on NHAI/ REC bonds and interest on PPF on becoming NRI.
Kindly clarify along with explanations if any with section reference. as per the provisions of Income Tax Act, 1961. .
Further, whether such individual can avail exemption of tax free interest on NHAI/ REC bonds and interest on PPF on becoming NRI.
Kindly clarify along with explanations if any with section reference. as per the provisions of Income Tax Act, 1961. .
04 January 2017
Yes, NRI can avail 80C deduction but Interest on PPF is exempted income,
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