12 June 2018
hi sir. one of my friend have received notice from IT dept stated non furnishing return of income. Actually he is Non resident indian, but he is maintaining resident account in a bank for that they have deducted tds u/s 194A. Now the problem is if he files IT return with the status of resident indian option, what will be the implication. As i know sec 194A is deducted on interest income which is applicable only for resident indian. Will there be any consequences. There is a chance he may return to India by next year to settle here. What he has to do now. Kindly guide us.
12 June 2018
let him file the return as non resident (Which is the true status) 194A is relevant only so far ass TDS is concerned. He can very well claim the credit for the said TDS.
12 June 2018
Thank u sir. Does he need to show the income which he earned in abroad ,is that necessary else he has to show the interest alone which he earned in india.
CAclubindia
