Treatment in Tax Calculation - Interest received on NRE Fixed Deposit

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

asked Jun 16 '13 at 01:59 by vinu 111

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

answered Jun 29 '13 at 14:37 by Pankaj Batra 5.2k320


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Asked: Jun 16 '13 at 01:59

Seen: 2,501 times

Last updated: Jun 29 '13 at 14:37