Filing of returns of nri

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Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2013 case1: one of my client(Staying in UAE) received bank interest on NRO account in India, the bank made TDS @ 12.5%, Whether he has to file income tax return in india

Case2: In the same case above if bank deduct TDS@30.9%

suggest me in this regard

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 November 2013 in any case, he should file tax return in respect to such income and if there is any tax refundable or payable, the same should be satisfied.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2013 But how to file it. Is it at the rate of 12.5% or at normal slab rate. Which ITR form

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 November 2013 yes should file return of income.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 November 2013 Dear Friend,

The TDS rate applied by bank is by no means an indication or a judgment for the tax rate applicable to you.

the exact tax incidence shall depend on the DTAA. So you need to check the relevant clauses for the same.

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