A person is having Central Provident fund (CPF) in Singapore when he was in employment there.
Now For FY 23-24 his status will become Resident and Ordinarily resident.
CPF fund lies in Singapore only.
Whether interest earned during FY 23-24 for CPF in Singapore will become taxable in India?
Is there any exemption available?
The interest income will be taxed in India under the head of other sources. Refer to DTAA for exemption. If no relief is provided in DTAA, then you can claim Tax Credit in India.
In case of any further queries, kindly mail me at casoravgupta @ gmail.com
Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)
CAclubindia
