banner_ad

Treatment of FCNR and NRE interest earned post becoming a Resident

287 views 5 replies

An NRI post becoming a resident (AY 22-23) holds FCNR and NRE deposit. Should the interest earned on these deposit be included in the income. Interest on FCNR deposit at what rate will it have to converted and included if it has to be included. Is there any disclosure of this deposit in the ITR. Kindly guide.

Replies (5)
In F.Y 21-22 ( A.Y 22-23) are you resident Indian? , please clerify.
Yes. resident for AY 22-23
You have to file your ITR and show such interest as income in ITR . Nothing else required.
Interest on FCNR and NRE account is tax-free
Sorry, agreed with Prasad Nilugal, interest on NTO account taxable only


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details