Section 115 A

As per my opinion

Under section 115A(1), income by way of interest received by a foreign company from  Govt / an Indian concern on moneys borrowed / debt incurred by Govt / the Indian concern in foreign currency, is chargeable to tax at the rate of 25 %.

and for NRI, foriegn income are non taxable, and income arned from india are taxable.

and

Any interest paid or credited on or after 1st April, 2005 in respect of deposits in NRE and FCNR account of an individual shall be taxable at normal rates of taxation. The bank shall be required to deduct tax at 33.66% (i.e. Income Tax 30% + Surcharge 10% + Education cess 2%). However, if such deposits are with an Indian company or bank which is an Indian Company not being a private company as defined in the Companies Act, 1956 (1 to 1956), the rate of TDS shall be 22.44% (i.e. Income Tax 20% + Surcharge 10% + Education cess 2%).

i mean 115A does not inlude interest income from fixed deposit

thanks Dheeraj