02 October 2008
MY BROTHER IS AN NRI, AMERICAN CITIZEN. HE PURCHASED A HOUSE IN NOIDA AND RENT IT OUT TO A COMPANY ON 15-9-2008 ON MONTHLY RENTAL OF RS.20000. COMPANY PAYING HOUSE RENT AFTER DEDUCTING TDS @15%. MY BROTHER HAS NO OTHER INCOME IN INDIA EXCEPT INTEREST INCOME FROM HIS NRE & NRO ACCOUNT.
IS THERE A PROVISION IN INCOME TAX ACT THAT MY BROTHER CAN APPLY FOR TDS EXEMPTION.
02 October 2008
As per section 197/206C(9) of the Income tax act,1961 read along with rules 28 and 37G of the Income tax rules,1962 your brother will get a no tax deduction certificate by applying to the concerned Income tax officer in Form no 13.
CAclubindia
