A K Jain (Service) (160 Points)
10 January 2012TDS @ 30.9% has been deducted for the first time in NRO saving a/c of one Govt. Bank.
1) Whether any new guideline issued ?
2) Since interest income may not be taxable as per rule so refund will be required to take from Income tax deptt. after return filing. Is there any form like 15 G/H to stop deduction of TDS.
Thanks
A K Jain
CA Neil Ganatra
(Partner - Gautam Joshi & Co.)
(871 Points)
Replied 10 January 2012
Dear Sir,
Interest on fund in NRO A/c is taxable however interest on fund in NRE A/c is not taxable.
CAclubindia
