Fdr of nri
This query is : Resolved
20 November 2012
good morning sir,
a persong whose residential status for inccome tax purpose was of NRI for the pvs year 2011-2012. he transferred amount form foriegn bank to his NRE account mantained with punjab national bank in india.
now he he makes fdr's from the said amount in kept in NRE account with punjab national bank in india then is the interest income from fdr's of the NRI(status as per income tax laws) is taxable.(since for a non resident any income demmed to accrue or arise in india is taxable)
a persong whose residential status for inccome tax purpose was of NRI for the pvs year 2011-2012. he transferred amount form foriegn bank to his NRE account mantained with punjab national bank in india.
now he he makes fdr's from the said amount in kept in NRE account with punjab national bank in india then is the interest income from fdr's of the NRI(status as per income tax laws) is taxable.(since for a non resident any income demmed to accrue or arise in india is taxable)
20 November 2012
The interest amount will be taxable in India since it is arising in India (the investment has been made in India).
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