What is the income tax on NRO account interest income, if I donot have any other income in India?
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How the income tax is calculated if I have only interest Income from an NRO bank account. I donot have any other income in India. Are there any deductions applicable.
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Answer:
Provide declaration in from 15 to the Bankers and Obtain a Tax Deduction Certificate from the Bankers. If your income in Indian sources is within the ceiling you do not have to worry, if you have not stayed in India for 180 days or more to maintain your NRI Status.
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