I am an NRI residing in a Gulf country for over 25 years. I have been investing in Indian mutual funds for the last 4 years.
I would like to know TDS deducted from capital gains (10% for equity funds, 30% for non-equity) can be claimed back.
Ans: Yes, NRIs can claim refunds on the deducted TDS. For an NRI to claim a refund on the TDS deducted, he/she must compute their income and tax liability according to existing slab rates and file your IT Returns accordingly.
If there is a refund due as per the returns, it will be paid out to you after processing by the IT Department.