Question ID : 44437

Interest earned from CPF fund in Singapore

A person is having Central Provident fund (CPF) in Singapore when he was in employment there. Now for FY 23-24 his status will become Resident and Ordinarily resident. CPF fund lies in Singapore only. Whether interest earned during FY 23-24 for CPF in Singapore will become taxable in India? Is there any exemption available?

The taxability of interest earned on Central Provident Fund (CPF) in Singapore would depend on the residential status of the individual in India and the provisions of the Double Taxation Avoidance Agreement (DTAA) between India and Singapore. As the individual's status for the FY 2023-24 will be Resident and Ordinarily Resident, he/she will be liable to tax in India on his/her global income including the interest earned on CPF in Singapore.