80tta eligibility
This query is : Resolved
25 March 2015
Dear Friends / Experts,
Please guide me on the following, IF POSSIBLE:
NRI Assessee received Interest Income of Rs.1.10 Lac. Bank has deducted TDS under Section 195 (at 30.90%).
Query
Whether NRI Assessee is eligible for Deduction of Rs.10,000/- under Section 80TTA on the above Interest Income, for which, TDS deducted u/s 195.
Kindly clarify the TDS at 30.90% is in order and also eligibility u/s 80TTA for the Interest Income, which was subjected to TDS u/s 195.
Thanks in advance for possible replies from all concerned.
Please guide me on the following, IF POSSIBLE:
NRI Assessee received Interest Income of Rs.1.10 Lac. Bank has deducted TDS under Section 195 (at 30.90%).
Query
Whether NRI Assessee is eligible for Deduction of Rs.10,000/- under Section 80TTA on the above Interest Income, for which, TDS deducted u/s 195.
Kindly clarify the TDS at 30.90% is in order and also eligibility u/s 80TTA for the Interest Income, which was subjected to TDS u/s 195.
Thanks in advance for possible replies from all concerned.
CA. Brijesh Baranwal
(Expert)
28 March 2015
1. Yes, NRI Assessee is eligible for deduction u/s 80TTA,
2. You may file return and get refund of excess TDS. Also TDS rate may be reduced in future by providing PAN to Bank.
2. You may file return and get refund of excess TDS. Also TDS rate may be reduced in future by providing PAN to Bank.
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