एनआरआई फिक्स्ड डिपॉजिट के बारे में आपको जो कुछ पता होना चाहिए
Tenure of the FD
The duration of the FD will determine the interest rate offered by the financial institution. Hence, make sure that you look at the interest rate chart available on the websites of most banks, NBFCs, and HFCs and compare rates for the tenure for which you want to book the deposit. The minimum tenure for an NRE Fixed Deposit is one year.
DTAA Benefits
This is specifically applicable to NRO Fixed Deposits. These deposits can be opened using the income earned by NRIs in India. So, if you are an NRI but have a property that you rent out, then the rental income can be used to open an NRO FD. However, the interest earned on these deposits is subject to tax.
Many NRIs living in foreign countries have a source of income in India. In many cases, this income earned in India is subject to tax in India as well as the country of residence of the NRI. In other words, the NRI would be subject to double tax for income earned in India.
To avoid this, India has entered into a Double Tax Treaty Agreement with many countries. This ensures that NRIs don’t have to pay tax twice on the same income. If you are opening an NRO FD and living in a country that has a DTAA with India, then make sure that you offer a DTAA Declaration for every financial year.
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