08/10/2025
If an NRI deposits foreign earnings in an NRE bank account (like Rs 20 lakh), itโs tax-free in India! ๐๐ข
โ
NRE account = foreign income, fully exempt from tax, no need to file ITR for this moneyโ๏ธ๐ฐ
โ Income tax notice quashed by Gujarat High Court โ taxpayer showed all documents and proof of NRI status, so Indian tax rules didnโt apply.
๐ซ Only Indian-source income (NRO account, rent, capital gains, etc.) is taxable for NRIs.
Summary: Foreign savings in NRE account โ taxable in India for NRIs! ๐๐ฎ๐ณ