melly15
Joined: 11/26/2024
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RE: NRE and NRO interest India
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RE: NRE and NRO interest India
Hi, I am a UK Citizen & my UK income is only £12000. If i open a NRE bank fixed cash bond in India which the interest will be tax free. Does The Savings Starter Rate which allows individuals to earn up to £5,000 in interest on their savings without being taxed be applicable to me. I will receive the bond interest payment of £2000 at the end of a financial year & remitted to a UK bank. Or is The Savings Starter Rate not applicable on foreign savings. Do i have to file a self assessment form? Thank You