one of my client received lumpsum pension from France Paris and opened a nro account. lateron they came to know that the bank will deduct TDS @ 30% on the interest received by them that they want to plan or you can say they want to minimise this tax(TDS) liability. one option can be to repatriate the money back to FRANCE again and receive it in NRE account which is tax free. FD amount is Rs 80 lacs, Annual interest is Rs 540000, and client is senior citizen
Please suggest some alternative options
Check residential status first, and take call.....
CAclubindia
