Nri account tds deducted 30.9%
This query is : Resolved
09 February 2016
Hello experts I have made a FD with J&K Bank of 1L for 1year interest accrued @9% and they deducted TDS @30.9% because my account is NRO. So is there any way that I can save myself from this regressive TDS deduction. I have renewed my FD as it was on auto renewal and they auto renewed it. I'm non resident I'm living in Australia right now. Every year I come to India.
09 February 2016
NRO FD attract 30.9% tax only. If you want tax free income then create FDs out of your NRE funds.
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