DEAR EXPERT
MY COUSIN IS NRI. HE HAS OPENED LOCAL SAVING ACCOUNT AND LOCAL FIXED DEPOSIT FROM NRE FUND
IN MAY 2011 ON HIS VISIT TO INDIA. NEXT YEAR 2012 HE WITHDRAW UNMATURED FIXED DEPOSIT
WHICH WAS CREDITED IN THAT LOCAL SB ACCOUNT.
HE HAS RECEIVED NOTICE FROM INCOME TAX DEPARTMENT FOR NON FILING OF ITR.
INCOME TAX DEPARTMENT HAS INFORMATION SUMMARY
1. CIB-183 - TIME DEPOSIT OF RS 100000/- AND MORE WHICH MEANS FIXED DEPOST WITH BANK
2. TDS-194A - TDS RETURN - OTHER INTEREST ( SECTION 194A ) WHICH MEANS TDS DEDUCTED ON FIXED DEPOSITS
3. TDS-195 - TDS RETURN - PAYMENT TO NON-RESIDENTS ( SECTION 195 ).
PLEASE GUIDE .
CAclubindia
