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2008 (12) TMI 18 - AAR - Income TaxNon-resident Indian citizen - Non-Resident Ordinary Rupee Accounts (NRO accounts) with SBI through convertible foreign currency remittances – held that income from above investment shall be taxed @ 20% plus applicable surcharge & cess - After his return to India, the applicant can invoke s. 115H until conversion of his NRO account into rupee account - Until conversion, income from NRO account shall be segregated from other income of the applicant and subjected to tax @ 20% plus surcharge & cess
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