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Question ID : 42249

082701

If a NRi is having rental and interest Income in India, Can he avail exemption under Chapter VI for PPF,Investment in tax saving schemes etc and deduction for Home Loan installment/interest paid on Housing loan etc

Posted by Mahesh Kumar on Mar 31, 2022

Filed Under DIRECT TAXES

Answer ID : 81455

NRI can claim deduction for housing loan interest and repayment. NRI cannot claim deduction for PPF and investment in tax savings scheme as they are not allowed to open this account after attaining NRI status. . However, such deduction can be claimed if such accounts were opened when they were holding status as resident.

Posted by CA. chunauti dholakia on Apr 01, 2022