https://www.taxtmi.com/caselaws?id=31812 The Authority confirmed that investment income from NRO deposits made with State Bank of India is subject to a concessional tax rate of 20%. Upon becoming a resident, the applicant can continue to avail the concessional tax rate by complying with Section 115-H until the NRO account is converted into a resident rupee account. Interest income from NRO accounts will be segregated and taxed at 20% without deductions. The eligibility to deposit foreign currency in NRO accounts upon return to India is subject to RBI regulations. en-us Wed, 17 Dec 2008 00:00:00 +0530 Wed, 14 Jan 2009 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31812 The Authority confirmed that investment income from NRO deposits made with State Bank of India is subject to a concessional tax rate of 20%. Upon becoming a resident, the applicant can continue to avail the concessional tax rate by complying with Section 115-H until the NRO account is converted into a resident rupee account. Interest income from NRO accounts will be segregated and taxed at 20% without deductions. The eligibility to deposit foreign currency in NRO accounts upon return to India is subject to RBI regulations. Case-Laws Income Tax Wed, 17 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31812