Lux Investing
Do I need to pay TDS on Fixed Deposit interest?
i am a software engineer and currently located in USA for the work assignment, I have a savings account with one of private bank in india. Now I am planning to Invest money in Fixed Deposit through the same bank, Currenly, I am just getting the US salary only and have no source of income in india. Now If i invest in FD, do i need to pay any indian taxes? Also what are the other options i can look for the investment. Please advise/suggest.
Public Comments
- Any income earned in India is taxable under the Indian IT laws. Since the deposit is made in a bank in India and an interest is earned out of it, the interest amount is fully taxable. cheers, Anand http://anandvijayakumar.blogspot.com/ mail me @ anandvijayakumar@ymail.com if you have any further questions
