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Tds duducted u/s 195 income tax act 1961

sameer (articale) (279 Points)

04 May 2017

sir, my friend is a NRI and TDS has deducted U/S 195, whether such TDS is refundable? which ITR is to be fill? he is A NRI..

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (169514 Points)
Replied 04 May 2017

TDS Rates for Non-Residents u/s 195 of Income Tax Act, 1961

Sr. No.	Nature of Payment	Co.	Others
1.	Long Term Capital Gains u/s 115E	NA	10%
2.	Other Long Term Capital Gains (excluding u/s 10(33), 10(36) & 10 (38))	20%	20%
3.	Short Term Capital Gains u/s. 111A	15%	15%
4.	Investment income from Foreign Exchange Assets	NA	20%
5.	Interest payable on moneys borrowed or debt incurred in Foreign Currency	20%	20%
6.	Royalty & Fees for technical services u/s. 115A – Agreement 1st June, 1997 to 31st May, 2005 – Agreement on or after 1st June 2005	20% 10%	20% 10%
7.	Winnings from Lotteries, Crossword Puzzles and Horse Races	30%	30%
8.	Any Other Income	40%	30%

Clearify from above all options of TDS deducted u/s. 195; the sub-head for which TDS been deducted......

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sameer (articale) (279 Points)
Replied 04 May 2017

Respected sir,

Thank you sir.

TDS has been deducted by STAR UNION DAI-ICHI LIFE INSURANCE COMPANY LIMITED.

i think it is TDS deducted from other income. TDS is deducted at the rate of 30 % by STAR UNION DAI-ICHI LIFE INSURANCE COMPANY LIMITED.

In such case whether such TDS is refundable or not? he is A NRI..

Please do the needfull.

Thank You.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (169514 Points)
Replied 04 May 2017

"i think it is TDS deducted from other income. TDS is deducted at the rate of 30 % by STAR UNION DAI-ICHI LIFE INSURANCE COMPANY LIMITED. In such case whether such TDS is refundable or not? he is A NRI.."

The exact source of income required to file return. NRI can file return, offer to tax any taxable income earned in India, and if any excess amount of tax deducted, can be asked for refund.

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