28 June 2009
The assessee is a NRI. He has deposits in banks TDS is being deducted by the bank. The return is to be filed for the first time. The assessee is a senior citizen. KIndly advise on the following issues:-
1) TDS-when it should be claimed? Whether in the year in which TDS is deducted or in the year in which interest income from bank is offered for taxation on maturity of FDR i.e. on cash basis?
2) Whether the assessee will be entitled to benefit of higher income limit being a senior citizen?
3) Whether benefit of 80C is available?
4) Is the income of NRI assessable at special rate or flat rate?
28 June 2009
2. Assessee will be entitled to higher basic exemption limit for being a senior citizen in respect of the income accrue or arise in India.
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