Dtaa

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shinitha (Querist)
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06 January 2015 sir,

My client is a NRI .He has fixed deposits and as per DTAA bank deduct tds 12.5%.
whether we have to add this income in his tax compuation?
he has other sources of income and tax slab is 30%
so whether we have to consider again this interest income?

pls help me.

thanks in advance.

Amol S Joglekar

Amol S Joglekar (Expert)
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06 January 2015 NRI assessee is ok...But this bank interest is received in India or recd abroad.

If it is recd in India, then you have to add in computation....and then probably you need to pay self assessment tax as well, if the slab is 30%

If it is recd abroad, then you dont have to add it in Indian Computation.

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shinitha

shinitha (Querist)
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06 January 2015 yes sir,interest received in india.
So what is the implication of Sec 115 E?
it says about 20% tax rate.

Amol S Joglekar

Amol S Joglekar (Expert)
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13 January 2015 115E gives this special concession to NRI. You can very well avail that rate of 20% tax, although his general slab is 30%

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