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Posted Sun, 27 Oct 2024 19:43:22 GMT by subtax
I live in UK since last 2 years and i have an NRO [NOT NRE] or non resident ordinary account in india. I already pay 30 percent income tax to indian government on any interest earned from fixed deposit held in that acount. 1. as i am in 40 percent tax bracket in UK, do i need to pay additional 40-30 = 10 percent tax in UK as self declaration? 2. Or, I have to pay another 40 percent tax to UK government and show the reciept of 30 percent tax paid to Indian governemnt to get some credit? what proof is required for this - could you please suggest entire process. in any case, do the total interest paid to UK and Indian governement can exced 40 percent?
Posted Fri, 01 Nov 2024 15:34:19 GMT by HMRC Admin 34 Response
Hi,
Please refer to the link below for guidance:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you
Posted Fri, 08 Nov 2024 22:48:43 GMT by subtax
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