Taxability of Non Resident
This query is : Resolved
Santhosh Poojary
(Querist)
02 December 2010
Dear All,
A Non-Resident having Term Deposit in Nationalised bank. Amount brought in foreign currency.
and he has other income of Short Term Capital Gain (U/s.111A - 15%)..
TDS deducted on STCG at 15% under saction 195.
I have two issues:
1. Whether interest earned on FD are taxable to non resident?
2. Can STCG income(Special Rate Income) can be shifted to Basic Exemption limit of Rs.160000/- in case of NR also?
Reply with relevent saction or other things..
Thanx
A Non-Resident having Term Deposit in Nationalised bank. Amount brought in foreign currency.
and he has other income of Short Term Capital Gain (U/s.111A - 15%)..
TDS deducted on STCG at 15% under saction 195.
I have two issues:
1. Whether interest earned on FD are taxable to non resident?
2. Can STCG income(Special Rate Income) can be shifted to Basic Exemption limit of Rs.160000/- in case of NR also?
Reply with relevent saction or other things..
Thanx
Santhosh Poojary
(Querist)
03 December 2010
Dear all Experts,
Awaiting for Reply
Awaiting for Reply
Message likes :
1 times
04 August 2012
1. Any income earned in India is taxable. Accordingly interest earned from fixed deposits in India is taxable.
2. The benefit of slab rate u/s 111A is available only to a resident. It is NOT available to a non resident.
2. The benefit of slab rate u/s 111A is available only to a resident. It is NOT available to a non resident.
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