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.
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.
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.
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.
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
Anuj
femaquery@gmail.com
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.
I Appologize for my error on the matter but Mr. Anuj Gupta held correct on his view.
Thanks Mr. Anuj Gupta for correcting me.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
