Home Forum Income Tax Month 1 2023 2023 (1) This
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Interest Income - Non Resident - Income TaxExtract NRI in US earns interest income in India on NRO account both SB and FD. As per Article 11 of DTTA between India and US, Interest income from India is taxable in USA. It is further stated that India may also tax such interest income subject to maximum rate of 15%. Definition of Interest as per DTAA means income from debt claims of every kind whether or not secured by mortgage In the above circumstances, whether the said NRI can avail concessional rate of 15% tax on interest income (NRO account) in India.
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