Tax Exemption Denied: Individual Deemed Resident in India Under FEMA, Ineligible for Section 10(4)(ii) NRE Account Benefit.

Exemption u/s 10(4)(ii) - interest income from NRE account - Since the assessee has come and stays in India during the financial year 2014-15 for 283 days, his residential status under FEMA is a ‘person resident in India’ only. Therefore, the assessee is not entitled for the deduction U/s.10(4)(ii). .....

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