Interest Income of NRI
This query is : Resolved
Rahul Mehta
(Querist)
11 April 2009
What is the last date for filing TDS return for payments made upto 31st march and for provisions on 31st march
Pawan Mittal
(Querist)
11 April 2009
Mrs.X aged about 55 Yrs having the income of Rs.500000.00 for FY 2008-09 from interest on ONR Account with Indian Bank.
1. Is there any special provision of Tax Rates ?
2. Will she get the benefit of tax free income limit up to Rs.150000.00 ?
1. Is there any special provision of Tax Rates ?
2. Will she get the benefit of tax free income limit up to Rs.150000.00 ?
CA.Tarun Maheshwari
(Expert)
11 April 2009
To Rahul : Last date for filing last quarter TDS return is 15th June.
11 April 2009
To Mr Pawan
1.Yes. The said interest income is to be assessed u/s 115E @ 20%. Citation:- V.Ravi Narayanan 300 ITR 62 (AAR).
2.Exemption of Rs.1,50,000/- will not be allowed against the said interest income.
1.Yes. The said interest income is to be assessed u/s 115E @ 20%. Citation:- V.Ravi Narayanan 300 ITR 62 (AAR).
2.Exemption of Rs.1,50,000/- will not be allowed against the said interest income.
HUZAIFA HUSSAIN
(Expert)
11 April 2009
I AGREE WITH EXPERTS
11 April 2009
i support the experts
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