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Non resident income from interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 July 2013 Dear sir,

My query is as under :-

A non resident Indian has some FD with a bank, which is not a NRE a/c. Bank is crediting the interest after deducting TDS @ 10%.
What will be the tax liability of non resident in this case ?
Will he be allowed for Rs. 2,00,000/- basic exemption ?

Thanks

Anil Goel
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 August 2013 1. The interest is taxable in India.
2. The non-resident will have to file a return and claim refund of the tax.
3. The slab rate applicable to a normal individual resident in India is also applicable to a non-resident individual. Slab rate of senior citizen and super senior citizen is NOT applicable.
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