Finance, Forex and Investments

I am NRI and having NRO term deposits in Indian banks. Can I submit 15Gform to avoid TDS.?

I am NRI and having NRO term deposits in Indian banks. Can I submit 15Gform to avoid TDS. If yes how can I fill 15G form, can you please sent me a sample filled form. Or if TDS is deducted how I cas file return. what are the requirement. What should the bank will issue me to file return. I have never file any return in in the past neither submitted 15G form. Thank you.

Public Comments

1. Hi Sam, Foe NRIs the option of 15H or 15G is not there. The banks necessarily need to deduct taxes under the RBI and Income tax guidelines. The tax is deducted at the rate of 30% on the interest earned by you (either paid in the year or accrued in that year). The bank issues Form 16A for the TDS duducted by them. You need to have a PAN number to file your returns here in India. Also on receipt of your form 16, you can file your return online or have a CA do it for you. In case you need any more help, do write back.
2. In indian banking act there is a clouse that you are not aligible to get benifit of form 15G as u r NRI.Bank will deduct 30%as aTDS & they will give u TDS certificate after 31st of march every year.so,u have to file your return and u can get refund TDS amount thru it.