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- Any investment proceeds to an NRE/NRO account has a TDS of 30+% applied on it. Any excess tax deducted over the applicable tax as per income slabs can be claimed as refund while filing IT return.CommentQuote0Flag
- Compensation received is taxable to you as "Income from other sources". Since you are a non resident, the remitter (DLF)of funds has to mandatorily deduct 30.90% TDS. This is irrespective of which account you made the initial payment.
Options for you is to either apply for a nil/lower tax deduction certificate to your Assessing Officer and provide that certificate to DLF however, obtaining this certificate takes time.
Better option is to suffer the tax, file a return in India and claim refund.
- Thank you very much.They have deducted 2.2 lacs as TDS. My friend paid from NRE account while purchasing the apartment.Therefore , how it can be recovered to NRE account? What is the procedure for filing a tax return by NRI ?CommentQuote0Flag