Hello friends, i have a doubt
What is the tax rate applicable to a Non-Resident Indian staying in UK, he is getting bank interst from indian bank for his fixed deposit. What about his TDS rate. Now bank has asked to give a self declaration regarding his TDS. What is interst rate. India is having DTAA with UK.
TDS rate on NRI account is 30%
First of All, Please Be Clear about Basic Tax Exemption of Rs. 2,00,000 is Applicable for Non- Resident.
If your Client, who resides in Uk, has interest Income Lessthan 2,00,000 Then He Can Give Declaration to the Bank, 'Stating that his Taxable Income in India' is Lessthan 2,00,000 In Form 15G.
The Declaration Asked by your Bank is Form 15G. You can Get the Form 15G on this Link:https://www.exploreincometax.com/Forms-related-to-Indian-Income-tax
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