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Nri's income

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Aashi Ajmera

Aashi Ajmera (Querist)
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27 July 2017 Will the saving account interest of foreign bank be shown it the IT return? If yes than will it be taxable?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 July 2017 If it relates to foreign branch of foreign bank then it is exempt.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 July 2017 If it relates to foreign branch of foreign bank then it is exempt.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 July 2017 If the SB a/c is in a foreign bank situated abroad, interest thereon need not be shown in the ITR since such interest is out side the scope of total income. Inference - corollary to section 5(2) of the IT Act,1961.

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