Mrs. X who is of 75 years, is a NRI and have some Interest income from investment in India.
Whether or not, she is entitiled to the benefit of the slab of Rs. 2,40,000.00 ?
If not, what will the incidence of Tax in her case ?
Debashis Saha (Lawyer) 28 July 2010
Mrs. X who is of 75 years, is a NRI and have some Interest income from investment in India.
Whether or not, she is entitiled to the benefit of the slab of Rs. 2,40,000.00 ?
If not, what will the incidence of Tax in her case ?
A V Vishal (Advocate) 28 July 2010
Since the assessee is evidently a NRI, the benefit of Senior citizen cannot be claimed unless such person proves residence in India. Moreover, the interest on deposits are liable to be taxed & deducted under the provisions of S.195
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