Tax return
This query is : Resolved
18 January 2016
my brother is an NRI. He transferred some huge amount from his NRI a/c to savings account and hold it for 3mths as FD.For which he received some intrest. Does he need to pay tax for that intrest?
Nikhil Kaushik
(Expert)
18 January 2016
depends on the quantum of the interest. If it is in excess of the basic exemption limit, then tax shall be payable.
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