Tds on fixed deposit interest

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Joby Joshy (Querist)
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10 August 2015 I would like to make a FD (in INR @ india) in my wife's Name aged 30 and she has NRI status, appreciate any one could advise her tax liabeties (both cases of with PAN and w/o PAN) and possiblities of refunding TDS filing ITR or any other way

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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11 August 2015 Since the FD will be made in India and interest would be earned in India the whole interest income will be taxable for wife. For claiming refund ITR will have to be filed. But if there is no PAN quoted to bank than bank will deduct TDS @ 20%.

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