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Bank interest

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(Querist)
01 November 2008 Do you agree that interest on NRO deposit is taxable @ 20% u/s 115E r.w.s. 115C and not @ 30% u/s 195 of the incometax act,1961.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
01 November 2008 Yes. But 195 is TDS section.
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