Question ID :
40613
Taxability of interest on NRE deposit
An individual who was an NRI has permanently shifted back to India. There are certain NRE deposits in his name. The query is can that individual take shelter under section 115H i.e. benefits available in certain cases even if after the assessee becomes resident and pay tax at the rate of 20% with regards to interest on NRE deposit as per section 115E.
Posted by
SHRADDHA S KAMATH
on
Mar 19, 2020
Filed Under
DIRECT TAXES
Can choose 20% .Inference - decision of AAR in V . Ravi Narayanan (300 ITR 62).
Posted by
B.CHACKRAPANI WARRIER on
Mar 19, 2020