Jagan (IT Developer) 29 March 2021
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?
Stay updated with latest Discussion!