AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Home / 
Tax Exemption Denied: Individual Deemed Resident in India Under FEMA, Ineligible for Section 10(4)(ii) NRE Account Benefit.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Exemption u/s 10(4)(ii) - interest income from NRE account - Since the assessee has come and stays in India during the financial year 2014-15 for 283 days, his residential status under FEMA is a ‘person resident in India’ only. Therefore, the assessee is not entitled for the deduction U/s.10(4)(ii).....