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INTERST ON NRO FIXED DEPOSIT IS EXEMPT INCOME OR TAXABLE

Sudarshan singh (4 Points)

28 August 2021  
I worked abroad for 03 years , GOI EMPLOYEE. came back on 29 Sep 21. will interest on NRO/NRE fixed deposit taxable or exempt income FOR AY 21-22. which form to be filled ITR1 OR ITR2

 2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (107664 Points)
Replied 28 August 2021

As per FEMA act, the person is PRI, hence the interest is taxable for AY  2021-22.

Though Deduction u/s. 80TTA or 80TTB, as applicable, can be claimed.

File ITR 2.

1 Like

Sudarshan singh (4 Points)
Replied 28 August 2021

Thank you sir

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