• Registered Users :
  • 161317
  • Current Active Users :
  • 102431

Post your Answer

(*) Fields are mandatory.

Answer Details

Question ID : 41138

NRI returning India and Interest income from NRE & FCNR

An assesse who is a NRI returned to India during November 2019. His Stay in India during FY 2019-20 is less than 182 days hence qualify as NRI for FY 2019-20. During FY 2020-21 the status of assessee is Resident. He has also satisfied the conditions for RNOR for the previous year 2020-21. (As he was Non Resident for 9 Financial year out of 10 financial year preceding previous year (2020-21). The said assessee has Interest income from NRE and FCNR deposits during FY 2020-21. Kindly guide me with regard to the taxability or exemption available on such interest income earned from NRE and FCNR deposits for FY 2020-21.

posted by Vignesh V Kamath on Sep 8 2021 12:00AM

Max 4000 Characters

Membership Detail