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Income Tax - Highlights / Catch Notes

Home Highlights October 2019 Year 2019 This

Assessment of interest income on FCNR-B deposits - joint FCNR(B) ...


PCIT Orders AO to Reassess and Tax Interest Income on FCNR-B Deposits in Joint Account with Non-Resident.

October 7, 2019

Case Laws     Income Tax     AT

Assessment of interest income on FCNR-B deposits - joint FCNR(B) Bank account with the assessee’s non-resident - the PCIT is justified in giving direction to the AO to verify, re-quantify and tax the interest amounts accrued which were wrongly not taxed in the earlier assessment order after giving appropriate opportunity of being heard.

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