Dtaa applicability
This query is : Resolved
06 January 2014
Indian citizen residing in Dubai; NRI for A.Y. 2011-12, having income from India. Int on FD on which bank deducted 12.5 percent TDS. India is having DTAA with UAE. Whether NRI can claim tax payable 12.5 percent on Interest on FD in India? AO says NRI has to pay 30 percent tax. Please clarify.
06 January 2014
YES, NRI CAN CLAIM TAX PAYABLE 12.5% AS TDS IN YOUR CASE.
YOUR TAX RATE WILL BE CALCULATED ON BASIS OF BILATERAL SYSTEM.
YOUR TAX RATE WILL BE CALCULATED ON BASIS OF BILATERAL SYSTEM.
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