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Exempt u/s.10(4)(ii)

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(Querist)
16 July 2019 Can Resident but not ordinary resident status claim exempt u/s.10(4)(ii)
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
31 May 2020 As per Section 10(4)(ii), interest income earned on NRE account is exempt from tax if account holder is treated as a person resident outside India under Foreign Exchange Management Act (FEMA). Thus, taxability of interest earned on NRE FD account would depend on residential status of account holder under FEMA
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