Interest earn in india through nre a/c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2013 Dear sir,
I am a A/c holder of NRE a/c in india and made a FD and earn Interest. whether it taxable in india.

plz tell me what i do.

VISHRUT

VISHRUT (Expert)
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29 April 2013 It will be subject to deduction of TDS if it crosses basis tax limit for interest i.e. Interest income from Bank under Section 194A.

But if you do not have any other taxable income better to obtain pan and submit for No. 15 G for no deduction of TDS on the basis of non taxability of income in India.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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21 May 2013 Income earned from NRE account is tax free in India,however there may be tax in country of residence .

Anuj
femaquery@gmail.com

VISHRUT

VISHRUT (Expert)
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23 May 2013 Hi
I Appologize for my error on the matter but Mr. Anuj Gupta held correct on his view.

Thanks Mr. Anuj Gupta for correcting me.

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