Tax on incomes in nro and resident accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2015 I am an NRE for last 18 months, got few remittances of overseas work salaries (2MONTHS in a resident a/c ; 7Months in NRO a/c).My queries : A. Interest income in resident+NRO accounts shall be taxable or exempt? B. 1 month salary in a resident a/c + S.B.intt & other incomes in resident accounts are taxable at what rate?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 October 2015 1 Interest income of NRO + resident ac is taxable at applicable slab rates, only NRE ac interest is exempted.
2 Salary is taxable based on residential status.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2015 My related 3rd query on the previous one Sir...please help. Since there was delay in opening NRE account initial 9 month salaries were remitted in Non-NRE A/c( i.e. 2M- in a Resident A/c and 7M in NRO A/c. Hope this income would be tax exempt as I had completed more than 182 days overseas in the FY. Kindly advice.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 October 2015 Your salary income earned outside India but credited in India is exempt as you are a non resident(stayed more than 182 days out side India).

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