I was an NRI earlier, now a resident. During this time I acquired assets abroad which are bank account deposits in USD. Is there any impact of change of value of the bank account due to change in exchange rate of USD and rupee. I understand that interest earned is taxed and that is separate.
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Change in value of foreign bank account due to exchange rate
Replies (1)
Correct.
For Resident Indian interest earned or accrued in a Financial year (global), is taxed in India. Fluctuation due to exchange rates does not affect to investment or assets.
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