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Showing posts from June, 2019

Is it Mandatory to declare Foreign bank Accounts and Assets in Income tax return by NRI?

One of the common doubt among NRIs who are filing their income tax returns in India is to whether to declare foreign bank accounts and assets or not . I often receive comments and questions whether it's mandatory for an NRI to disclose the foreign bank account details and an asset on income tax returns? The short answer is No . It's not mandatory for an NRI to disclose or mention its foreign bank account details while filing income tax returns in India, but you need to be sure about your residential status. Read more »

Does Interest on NRE Fixed Deposit is Taxable?

In short, No, interest earned on NRE fixed deposit is tax-free in India . If you are an India working abroad and earning in foreign currency, you have a couple of more investment options available than to a resident customer. If you keep your money or some part of your money in India, NRE fixed deposit is the best option for you. Read more »