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Tax return

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(Querist)
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?
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Nikhil Kaushik

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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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