Tds for nro account

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manager
29 Points Joined December 2011

Hi,

I have never paid tax in India so I would appreciate if anyone can answer in details.

I have an NRO account with ICICI where I will be having interest income. I just opened so I belive interest will start gettin accumulaed in 2012.

My interest income is not going to go beyon  1 lakh rupees. Now I have read on forums that ICICI bank will deduct TDS on the interest income.

My question are

1) When will ICICI  do TDS deduction on the interst income

2) I read that I can file some form 15G to get the TDS refund if my interest income does not go beyond 1 lakh rupess. Now when will I need to file this

any other helpful tips would be appreciated

 

Jugad

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On 17 December 2011 at 05:45 Report
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Accounts manager-MBA
2150 Points Joined July 2008

you have to deposit the 15g for non deduction of tax ,bank deduct the TDs when interest income exceed Rs 10000

if you submit income tax return then also you get the refund

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On 17 December 2011 at 11:50
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Manager
704 Points Joined April 2009

Resident only can eligible to submit form 15g if Non resident can get the refund through filing of return

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On 19 December 2011 at 20:34

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