16 May 2011
Have a nice day Sir, my friend service in abroad(Non Resd) and send our salary in india in NRI a/c three forth time in year. Bank conrvert in Fixed Deposit of NRI deposit amount and deduct TDS.
I want to known NRI amt is tax free in inda and If i file Return on Income Tax can received this TDS amot.
16 May 2011
GOING BY THE FACTS AND ASSUMING THAT UR FREIND IS AN NRI WHO IS IN EMPLOYMENT OUTSIDE INDIA THE MONEY SO EARNED IS REPATRIATED TO INDIA OUT OF WHICH FDs ARE CREATED AND TAX IS BEI NG DEDUCTED BY BANK ON THE INTEREST NOW I RAPLY AS UNDER 1. SALARY EARNED ABROAD WILL NOT BE TAXED IN INDIA SINCE UR FREIND IS AN NR 2. INTEREST EARNED ON FDs IN INDIA WILL BE TAXED AS PER SLAB RATES APPLICABLE 3. CREDIT FOR TDS WILL BE ALLOWED WHILE DETERMINING THE TAX LIABILITY
CAclubindia
