Dear All,
I would like to clarify regarding ITR for an NRI who has FDs in NRE account. It is tax free in India.
If the person has income only from this NRE FD to a tune of 5 lakhs (which is tax free), does he still need to file and report this income in ITR2?
Regards
Seprac
For an NRI he Is liable to Show and taxed for income earned or accrued in india
As a Non-Resident if there was any other income, ITR2 can be filed and NRE FD can be displayed in Schedule EI of ITR2 form.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
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