Sorry I am late on this one (I just read it) If your interest earned from all the deposits in a particular branch is Rs.10,000 (upto 10,00,000)they are likely to deduct tax at TDS @10.3%
but if you have or the deposit from NRO a/c the tax in 30.9% This is bit complicated. Your Indian bank should be able to help you on this thanks. Note: Above does not appy to NRE a/c ========== On 01/11/2007, JoeGoaUk <joegoauk at yahoo.co.uk> wrote: > Rs.50,00,000 > > First of all let's see what Rs.50,00,000 also mean? ......................... > We now see what its worth in Goa? . > OK, lets see what returns it may fetch if we kept the same in the Indian Banks. ................... > Rs.4,62,500 (@9.25 domestic/Taxable) ........................... > Joegoauk at yahoo.co.uk QUESTION: What is the rate of tax payable on interest earned ? In the U.K. it is 20%. -- DEV BOREM KORUM. Gabe Menezes. London, England [EMAIL PROTECTED] for Goa & NRI related info... http://in.groups.yahoo.com/group/GOAN-NRI/ For Goan Video Clips http://thisisgoa.com/ 0r http://youtube.com/joeukgoa ___________________________________________________________ Yahoo! Answers - Got a question? Someone out there knows the answer. Try it now. http://uk.answers.yahoo.com/
