Income tax on NRI
raki reddy
(Querist) 18 March 2011
This query is : Resolved
Are the Foreignors/NRIs eligible for refund of tax deducted by the bankers on thier Fixed deposits.
These Foreignors/NRIs are having PAN cards, but they are not staying more than 180 days in India.
A V Vishal
(Expert) 18 March 2011
Yes they can claim refund.
malipeddi jaggarao
(Expert) 19 March 2011
If the total interest income on such fixed deposits is within the limit of exempted taxable income, though the Banks deduct TDS, the NRI can file tax return and claim refund.