sir, My son, who is in USA has invested more than a crore of rupees in SBI, Bangalore. He has no other income in India other than the interest he gets in Rupees on the above investment. He pays incometax in USA and now wants to pay income tax in India also. Kindly let me know what is the Tax form he has to use and how to calculate the incometax. Already TDS is being deducted at 30%. In April, the SBI will give a statement and by enclosing this statement, my son wants to file the tax return. kindly help. Thanks in advance. V.R.Rao Tel: 23300130, Bangalore.
1 Answers
You can download income tax calculator excel and put bank interest under 'Other income (Bank account/NSC/Post Office/SCSS Interest)' head.
TDS deducted can be put under TDS (Tax deducted at source) head.
Income tax return would need to be filed before 31st July with ITR-1 form.
Related