Prakash Chawla
Joined: 8/12/2024
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RE: 10 year limit for tax spared relief on NRE deposits interest
Hi, NRE accounts have 2 types - Savings and Fixed (Term) Deposit. My question is if Savings account is more than 10 years old but Fixed Deposit is less than 10 years, can I claim foreign tax relief on tax-spared basis on Fixed Deposit account? Please note both accounts are with same bank but fixed deposit account was opened in much later date to lock funds in return of higher interest rates. Please let us know.