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Tax refund for nri

Sinoj Varghese (Accountant) (44 Points)

22 April 2016

I am an NRI since 2007.

I have a NRE account and NRO account in Federal Bank. My PAN is updated in bank accounts.

Bank have been collecting TDS from my NRO account, but, I was not informed oxf such TDS and their payment.

Until today, bank has not provided with any details of TDS paid on my behalf.

As an NRI, I am not liable to pay any tax as the total interest in I arned in NRO account are only thousands, but, more than 10,000.

Recently, I cross-checked my interest receivable on FD and the actual interest I received. I contacted bank and I could know that TDS are deduted.

Please advise me, how can I get refund of TDS on interest?

Regards,

Sinoj Varghese

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6 Replies

Sandeep Sankaran (Chartered Accountant) (128 Points)
Replied 22 April 2016

Dear Sinoj,
You can get refund of TDS amount by filing your income tax return. Going by the name of the file, it seems that the same is for FY 15-16. Due date for filing the return is 31sf July 2016.

For further clarifications mail me to enchansandeep @ gmail

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Sinoj Varghese (Accountant) (44 Points)
Replied 22 April 2016

Originally posted by : Sandeep Sankaran
	Dear Sinoj,You can get refund of TDS amount by filing your income tax return. Going by the name of the file, it seems that the same is for FY 15-16. Due date for filing the return is 31sf July 2016. For further clarifications mail me to enchansandeep @ gmail

Thank you.

These are the details I could get online about TDS for myself.

As an NRI, I have not submitted any income tax return.

TDS details:

AY 2013- 2014 INR 2,820 (Deductor Federal Bank)

AY 2014- 2015 INR 246 (Deductor Federal Bank)

AY 2015- 2016 INR 5,313 (Deductor Federal Bank)

AY 2016- 2017 INR 567 (Deductor Federal Bank)

In addition to the above deductions, bank has also deducted TDS on my fixed deposits. Total interest accrued as per fixed deposit schedules is:

1. Interest on FD INR 36,165 - deductable TDS INR 11,175 (30.90%)

2. Interest on FD INR 45,207 - deductable TDS INR 13,969 (30.90%)

Bank has not given any information for the above two deductions. Without considering even my PAN they have deducted at 30.90%

1. Can I get refund for the previous assessment years?

2. Is it possible to submit ITR online and request for refund?

Thanks in advance.

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 22 April 2016

claim form 16A from deductors with your PAN number mentioned in 16A, if the same is displayed in your 26AS, then you can file ITR for two years and claim ( it is a bit tough to file return for prior to two years back)

Sinoj Varghese (Accountant) (44 Points)
Replied 11 February 2017

My ITR status displays "No demand No refund"

Can someone help me?

Abhinav (CA) (397 Points)
Replied 11 February 2017

You can file belated return for FY 2014-15 till March 31, 2017.You can file belated return for FY 2015-16 till March 31, 2018

For both these years, file tax return and claim TDS deducted as refund. Before claiming TDS credit, check Form 26AS for these years to see if tax credit is available.

Nothing can be done for FY 2013-14 and previous years. Consider amount as gone.

Instead of keeping money in NRO which suffers a mandatory TDS @ 30.90%, consider moving it to NRE account - bank will ask you to fill Form 15CA and may also require a CA certificate in Form 15CB.

If you're keeping money in NRO FD, file tax return every year and claim refund. Check DTAA of the country that you're a tax resident of, whether a lower TDS rate may apply - if yes, apply to the bank for a lower rate.

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Sinoj Varghese (Accountant) (44 Points)
Replied 11 February 2017

I filed ITR for 2015-2016 AY in 2016. I have Form26AS and TDS certificates. I don't know if anything was wrong in data entry of ITR. Can you check if I attach the documents?