IMPORTANCE OF DTAA FORM

If you are having any NRO account (SB or FD) then you need to submit DTAA Form to your bank to avoid higher TDS Rate on interest earnings

 

TDS rates will be decided on the basis of three situations

 

1.         DTAA Form and PAN both not submitted then TDS Rate will be 30%

2.         DTAA Form submitted but PAN not given then TDS Rate will be 20%

3.         DTAA Form and PAN both submitted then TDS Rate will be country wise (rate available with bankers)

 

Remember to attach Tax Residency Certificate with DTAA Form and these forms required to be submitted every year

For other details / queries , drop a mail at prashant.singh@sbi.co.in