I have OCI and PAN card. Although I had NRI account for whatever reason they asked me to furnish my PAN card number. I had no choice but to apply. Now Iam confused if Govt of India will start bothering me to pay taxes for my income obtained in Canada? I already file taxes in Canada and have 0 income in India. If I deposit any money in my indian bank account will the income tax department be after me?
#2 Apr 15th, 2017, 14:23
- Join Date:
- Jan 2010
- North Rhine-Westphalia
Quote:Do you have an NRE account or an NRO account?
In the latter case the interest earned is taxable in India. Your bank should be deducting 25% of the amount as TDS (Tax Deduction at Source). The tax authorities in Canada may expect you to mention this on your tax return. I presume there is a dual-taxation agreement between India and Canada in force so you won't have to pay anything more.
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