NRI Income

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the tax implications for Non-Resident Indians (NRIs) earning tax-free income abroad and investing it in India. If you transfer funds earned in the same financial year to your NRE account and make Fixed Deposits (FDs), you should declare this as exempt income in your Income Tax Return. However, if the income was earned in a previous financial year, it generally does not need to be shown in your return.

Raushan Agrawal

Raushan Agrawal (Querist)
Follow

30 November 2020 I am a NRI and getting salary from foreign employer in that country which is taxfree. Now i am sending the money from Foreign Country to my NRE account at India and making online FD from NRE Account. The NRE FD is showing in SFT Transaction in Form 26AS.

Whether I need to show the transferred amount to NRI account as exempt income or no need to show the same in Income tax Return.