tax on interest income of non resident

This query is : Resolved

PRAKASH CHAND SHARMA (Querist)
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17 November 2011 A non resident Indian have interest income on FD in India of Rs. 1610244/-. the normal tax is Rs. 347184/-. Tds has been deducted of rs. 235077/-.

He has no other income in India.

He is resident of UAE. as per DTAA the tax rate is 12.50%+2%+1%=12.875%.the tax as per DTAA is Rs. 207319/-. whether he can claim relief u/s 90. of Rs. 139865.

If above calculation is wrong than how will be his interest income assesed under income tax act?

Vishal D Shah

Vishal D Shah (Expert)
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19 November 2011 He can definitely claim relief.
income shall fall under special tax rate of 12.5% (without Education cess). DTAA is the code to be filled in ITR. calculate Tax & TDS & claim refund.

cavishalshah@gmail.com