Income Tax on money transferred from abroad

Ravi Chopra (Querist) 22 April 2009 This query is : Resolved
Whether any tax is leviable on income transferred from abroad by an NRI in his NRO or NRE Account. Whether interest earned on such income lying in NRO/NRE Account is chargeable to tax or not and whether the NRI will have to file I.T. Return for the interest income earned on deposits in such accounts in India.

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A V Vishal (Expert) 22 April 2009
No tax is leviable on income transferred from NRI into his NRE or NRO account since the amount is tax suffered. However, interest on such amount earned in India on NRE a/c is not taxable but any such income earned in NRO A/c is taxable.