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The limit of Rs.5,000/-on interest for the purpose of tax is not applicable. Tax rate will be 31.2% as per the current Income Tax rules (Effective 01/04/2018).
Declaration in Form 15G/H for non-deduction of tax at source is not applicable. FATCA (Foreign Account Tax Compliance Act) form must be furnished by the NRI depositor.
The FATCA form is available in the Deposit Application Form or can be downloaded from our website.
