Treatment in Tax Calculation - Interest received on NRE Fixed Deposit

vinu 1
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Dear Mr Batra,

I am a Non Resident Indian.

For 2012/13 tax year I had the following income.

Interest received on NRE Fixed deposits - Rs 200,000 " " " NRO " " - Rs 20,000.

Since NRE Interest received is fully exempt from tax, in preparing the 2012/13 tax calculation is it completely ignored for tax slab purposes? & therefore only Rs 20,000 is taken into account only

Vijay Shah

nre-account nre-fixed-deposit non-resident-status nro-account non-resident-indian tax-calculation
1 Answers

As NRE fixed deposits are exempted from income tax, you just need to show only NRO account interest in income tax return.

Pankaj Batra5212
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