Whether interest on nro deposits & savings account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2013
Dear Sir,
Could you please guide me about whether interest received for NRO deposits & Nro account is Taxable. Would also like to know what are the tax rates that r applicable & how an NRI can save tax on the same (through investments & exemptions)
Thanks.
Could you please guide me about whether interest received for NRO deposits & Nro account is Taxable. Would also like to know what are the tax rates that r applicable & how an NRI can save tax on the same (through investments & exemptions)
Thanks.
08 July 2013
There is difference between NRi and NRO account. NRI interest is exempted but NRO interest is taxable at regular rate. If the interest is below the minimum amount of income not liable for tax is not taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
