Income tax on nre assessee
This query is : Resolved
RAJESH NAGDA
(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
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
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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