Can NRIs use Form 15G to avoid TDS on interest income from Bank Deposits?

Hi Dear

No you cannot fill form no 15. TDS is deducted only on NRO Accounts @ 30%. If your Indian Income is below Taxable Income then you will have to file Income Tax Returns to claim Refund of TDS

Yes, nonresidents can also file Form 15G.

Your can file Form 15H is for senior citizen and 15G for any other person with the bank so that no TDS is deducted..

For Interest interest income (sections 193, 194A and 194K) any person other than a company or firm (includes non-resident) can submit a declaration under section 197A so that no tax is deducted on source from such income.

Here is term any person includes nonresidents. Section 194A covers bank interest.

The receipient must meet these conditions: *Tax on total income of the previous year must be nil and *the Form 15H/15G covers only the maximum amount not chargable to tax. Read http://mytaxes.in/index.php?topic=142.0

First let me clear the fact Form 15H or 15G is given to banks asking them not to deduct TDS since your total income is within the taxable level or you are considering the income while computing. It is not for simply getting exemption.

NRI - if they open

NRO A/c. indian income can be credited. no repatriation generally.

TDS is deducted on interest

NRE: This account only - exemption is allowed. repatriation allowed. No tds deducted. Investments and credit of interest on the investment is allowed.

FCNR - You can keep the designated currency a/c. like $, Sterling Pounds, etc.

Hope your doubt is little clarified.

i opened a savings account in SBI in 2008. I used to get my salary credited in this account. I started FD in this account in 2011 which is still continuing. I left my job and left India in 2012 for higher studies. Later in 2012 and 2015 i started few more fixed deposits in this account. This is not a NRO or NRE account. My question is TDS on my fixed deposit will be deducted at the rate of 10% or 30%(for NRI). I am NRI for FY 2013-2014 and 2014-2015. For FY 2012-2013 i am resident India

Form 15g India

Form 15g

Dear All

hiii...this is anis , since form past 4 years i m working in Dubai,, what ever saving is there in my account in India as NRI account,,, so there is no need me to fill the form 15G right, how much also if we have balance in my NRI saving account there will be no deduction ... please help me know,,,,,,,,,,,!