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Income Tax Query


Jagan (IT Developer)     29 March 2021

Jagan
IT Developer 
 9 points

| My Other Post

Hi, I stayed overseas for few years and returned to india 2 years back. I was doing NRO FDs when I transferred money to india. After returning to India, I didn't convert the NRO accounts to Resident Accounts as I'm not totally familiar with the rules. NRO FDs were getting tax free interest which I didn't put while filing ITR.

Now income tax dept issued a notice about mismatch in tax filing. Could anyone please let me know how do we correct this? Should I show the FD interest income under taxable income and pay tax or are there any other options? Please advise what could be the implications?




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