Interest Income earned by a NRI from a Foreign Bank shall not be Taxable in India u/s 5(2) of Income Tax Act: ITAT [Read Order]

By Sunayana Dhal - On September 29, 2023 9:30 pm - 2 mins read

Interest Income - Income - Interest - NRI - Foreign Bank - Interest Income earned by a NRI from a Foreign Bank - ITAT - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the interest income earned by a Non-resident of India from a foreign bank shall not be taxable in India under Section 5(2) of the Income Tax Act, 1961. As per provision of Section 5(2) of the Income Tax Act which charges a section…

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