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Banks deduct TDS on NRO interest at high flat rates for non-residents. If your total Indian income is low, filing ITR-2 lets you get the excess back.
ITR
Claim back high TDS on NRO interest
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Provisions
Sec 195, Income-tax Act 1961 (now Sec 393, Income-tax Act 2025); Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)
Analysis
Say NRO interest was ₹3,00,000 and TDS was about ₹93,600. If that is your only Indian income, under the new regime slabs for FY 2025-26, tax on ₹3 lakh is nil. You can claim nearly all TDS back by filing. Note NRIs do not get the Sec 87A rebate, so compute carefully if income is higher.
Close
- Download Form 26AS for TDS.
- Compute tax on total Indian income.
- File ITR-2 claiming the refund.
- Validate a bank account for the refund.
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