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Where Taxpayers and Advisers Meet

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by vcc
Mon May 13, 2019 3:32 pm
Forum: International Tax
Topic: NRIs and Double Taxation between India and UK
Replies: 7
Views: 1884

Re: NRIs and Double Taxation between India and UK

Not all NRI accounts are exempt from tax in India, only NRE (non-resident external) savings/deposit accounts and FCNR deposit accounts. The other type of account is NRO (non-resident ordinary) savings/deposits, the interest income on which is taxable in India at flat 30%. In the past banks in India ...
by vcc
Sat May 11, 2019 10:44 pm
Forum: International Tax
Topic: NRIs and Double Taxation between India and UK
Replies: 7
Views: 1884

Re: NRIs and Double Taxation between India and UK

I just came across this forum while looking for information about UK taxation on foreign interest income (esp. from NRE/NRO Accounts at banks in India). The NRE account interest is tax free in India, so the entire NRE account interest income must be declared in UK and 40% tax must be paid in UK I th...

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