Rate of NRI withholding tax

This is the question of NRI derivative traders.

What is the rate of NRI withholding tax for income from derivatives?

How is income from derivative is treated differently for NRI and resident traders?

Manoj

As per ICICIDirect NRI withholding tax (WHT) is deducted at source at the rate of 30.90 % (30% Tax rate, & 3% Cess)

Some other points which might help other NRI

• TDS is deducted end of every month on net profit for that month.
• In case of loss no refund is given. Loss it is carried forward to the next month and adjusted against the profit in subsequent months in the same tax year.
• However tax deducted on cumulative net profits in one month can not be refunded or adjusted in case there are losses in subsequent months.

some more information here.