Nre interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2012
My client who's an NRI has the status of R& OR for the PY 2011-12. Will his SB Interest & FD Interest be Taxable? The FD has matured before he became R & OR. Will this have any implications on the same to claim exemption ?
03 July 2012
Interest in NRE account is tax free and NRO account are taxable.
03 July 2012
Here the facts have not been correctly given by you, however my thoughts are:
The status of an assessee is checked as on last date of assessment year.
So if on last date of financial/assessment year the assessee is ROR then his worldwide income is taxable.
Anuj
femaquery@gmail.com
The status of an assessee is checked as on last date of assessment year.
So if on last date of financial/assessment year the assessee is ROR then his worldwide income is taxable.
Anuj
femaquery@gmail.com
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- HOUSING LOAN ISSUE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Taxability of Partnership firm for FY 2025-26
- LIC maturity claim whether taxable
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- Sec 44ada applicable only or both
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Same demand raised for original as well as rectification request return
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
