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
CAclubindia
