Whether TDS is require to be deducted from
1) Saving Interest on NRO A/c
2)Saving Interest on NRE A/c
3)FD Interest on NRo A/c
4)FD Interest on NRo A/c
If YES, Than What is the Rate of TDS...
CA. Rajesh P. Ahir (In Service @ PSU) (687 Points)
11 July 2011Whether TDS is require to be deducted from
1) Saving Interest on NRO A/c
2)Saving Interest on NRE A/c
3)FD Interest on NRo A/c
4)FD Interest on NRo A/c
If YES, Than What is the Rate of TDS...
valji
(Accounts manager-MBA)
(2150 Points)
Replied 11 July 2011
interest on NRE deposit exempt from tax under sec 10 of the income tax act
interest from NRO deposit come under sec 195
TDS rate is 30.9%( 30% tax +3% Education cess so in your case except 2nd all interest liable to TDS
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