NRI TAX RATE.as applicable on NRO Saving Bank a/c & FD interest

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rmalhotra (Querist)
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25 July 2025 Sir,

AS NRI an Individual has earned interest income of Rs 240000 on his NRO-Saving Banik a/c and NRO-FDs during FY2024-25 (AY2025_26 ) i.e current assessment year. Bank has already deducted TDS @30% under Section 195 of ITax . He has no other income in India.
Now following query -

1. Is this interest income is to be taxed at slab rates OR is to be taxed at Any Specific Special Rates ( if applicable).

2.Will he be entitled to refund of total TDS by filing ITR-2 ( as his India Income is well below Taxable Limit )

3. He is having a residential flat in India and which is self-occupied (Not Rented and No rental income ). Will he still be required to fill-up House Property Income Schedule OR can he skip filling this HP Income schedule as there is income under HP head.

Pls clarify pointwise and help to remove any doubt.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2025 1. At slab rate.
2. Yes.
3. Better to declare it in Schedule HP as self occupied, if it is locked.

Message likes : 1 times

rmalhotra

rmalhotra (Querist)
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27 July 2025 Thank you Sir for your prompt reply !

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 July 2025 You are welcome.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 September 2025 Good luck...

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