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Q.

My Chartered account while submitting Income tax return in New Mumbai says that the interest on NRE term deposit in Rupee account which I transferred from UAE to India is taxable.
Can you please tell me the clause in Income tax rule that it is not taxable?
Thanks

Tags: india, thanks, account
Asked by Malay Dutta, 18 Sep '12 03:17 pm
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Answers (2)

 
1.

Not possible... NRE deposit and its accrued interests are not taxable. But NRO deposit is taxable. You can check about it with your bank.
Answered by Joseph Chacko, 18 Sep '12 04:04 pm

 
  
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2.

He is right money in NRO is not taxable
Answered by Gernal Singh, 18 Sep '12 03:26 pm

 
  
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