Hon. Finance Minister and his reputed Team should be applauded for such a direct and forceful initiative on new direct tax code. I can humbly suggest that the OCI certificate holders should be exempt from paying 30% tax deducted at source on their interst income from their NRO savings account because the Rupee componenet of interest income is so small that in 9 out of 10 cases the whole amount stands much below the taxation threshold. Why then the Banks still deduct and ask the customers to apply for tax refund when they do not have any earning in India as they are not allowed to work in India without work visa. Please consider Mr Minister, Sir. - Soumen Sydney Australia 12/2/10
