India eases norms for NRIs investors scraping higher TDS

nri investment tds

By Accommodation Times News Service

Under the new rules 37BC, investors will instead need to provide their personal details such as e-mail and contact number, residential address and tax residency certificate from the government of their home country.

Non-resident investors who do not provide permanent account number will no longer have to face higher tax deduction at source.

The income tax department has eased norms for non-resident investors, who will not be subjected to a higher rate of 20% tax deduction at source or TDS on their interest earnings, royalty or technical fee if they furnish some personal details and tax residency certificate from their home country and a few other easily available documents.

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