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Hardik Parikh |106 Answers |Ask -Follow

Tax, Mutual Fund Expert - Answered on Jul 27, 2023

Hardik Parikh is a chartered accountant with over 15 years of experience in taxation, accounting and finance.
He also holds an MBA degree from IIM-Indore.
Hardik, who began his career as an equity research analyst, founded his own advisory firm, Hardik Parikh Associates LLP, which provides a variety of financial services to clients.
He is committed to sharing his knowledge and helping others learn more about finance. He also speaks about valuation at different forums, such as study groups of the Western India Regional Council of Chartered Accountants.... more

Asked by Anonymous - Jul 25, 2023Hindi

Hi Sir , NRIs who is earning on FD interest . Which ITR form need to be filed ?

Ans: Dear Anonymous,

As an NRI earning interest from Fixed Deposits in India, you should file your income tax returns using Form ITR-2. This form is applicable to individuals and Hindu Undivided Families (HUFs) who have income from any sources except income from profits and gains of business or profession.

Please note that the interest earned on your FDs is taxable in India and you are required to report this income in your tax returns. Also, remember to check if there's any Double Taxation Avoidance Agreement (DTAA) between India and your country of residence to avoid being taxed twice on the same income.

I hope this answers your question.

Best Regards

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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I was a NRE and I am having NRE FDR maturing at different dates. I have come to settle in India. My question is do I need to file IT returns? But the interest is from my NRE FDs. Please advise me in details considering me as a lay man.

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