RNOR TAXATION

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Chirag H. Thakkar (Querist)
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28 November 2020 An assessee was out of india since last 12 years. Came to india in March 2020. Got a job here in india and now settled in India.
He made NRE FDs in 2018 which will be matured in 2021-22 & 2022-23.
What will be the tax treatment for the interest received on maturity.

Please share the applicable sections.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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29 November 2020 Refer section 6.
Indian income will be taxable under head income from other sources.

Chirag H. Thakkar

Chirag H. Thakkar (Querist)
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29 November 2020 Sir interest received covers both NRE fd & then converted FDs.
Interest for the period when he was outside India will also be taxable??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 October 2021 For RNOR, Interest over NRE FD is not considered for tax assessment.

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