19 June 2020 But i read in section 10(15)(iv) that interest on deposits paid to Resident but not ordinarily residents by banks are exempt... Could you pls explain my previous question on the basis of this provision. I'm really confused..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 June 2020 That's related to deposits lying in banks abroad.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 June 2020 NRE deposits will be considered as resident deposit as soon as person becomes resident in india.

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