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Interest received on NRE ACCOUNT

arpit modi (chartered accountant) (26 Points)

04 January 2021

Interest received in NRE ACCOUNT is it taxable ?

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Tanvi Sharda (51 Points)
Replied 04 January 2021

Interest received in NREaacount is exempt from tax.
As per section 10(4)(ii) of the Act, the NRE interest is exempt from tax for those who are treated as a ‘Person Resident Outside India (PROI) as per the Foreign Exchange Management Act, 1999 (FEMA) or if the person is permitted to continue holding such an account by the RBI

Balamurali Unnithan MS (STUDENT) (1631 Points)
Replied 04 January 2021

If he is tagging NRI Status , it's excluded for tax computation

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