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Nri's income

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

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

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



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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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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