Int on fd
This query is : Resolved
05 December 2017
Sir,
Whether interest on fd in NRE Account is taxable or not for NRI. If it is exempted then please specify the section.
Thanks
Whether interest on fd in NRE Account is taxable or not for NRI. If it is exempted then please specify the section.
Thanks
05 December 2017
Hello,
Yes Interest income credit to NRE Account is exempted. Refer Section 10(4)(ii)
Yes Interest income credit to NRE Account is exempted. Refer Section 10(4)(ii)
05 December 2017
Sir as per sec 10(4)(ii) int amount on deposited in NRE Account Exempt . this is not for FD Account.
Please provide clarification
Thanks
Please provide clarification
Thanks
05 December 2017
If your Fixed Deposit is opened through NRE A/c (i.e linked to NRE A/c) interest will not be taxable. Deposits in NRE A/c includes Fixed Deposits.
However you should make an enquiry with your Bank about nature of deposit just to be safe.
Hope this helps.
However you should make an enquiry with your Bank about nature of deposit just to be safe.
Hope this helps.
05 December 2017
Interest on NRE fixed deposit is exempted u/s 10(4)(ii). You may also refer
CIT Vs. Asandas Khatri (2006) 152 Taxman 635(MP).
CIT Vs. Asandas Khatri (2006) 152 Taxman 635(MP).
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