Dear Sir/Madam, Good News for you again. As per the Budget proposals, no tax will be deducted at source (TDS) on interest earned on your NRI Deposits and these provisions will be applicable with effect from April 2005 for the assessment year 2006-2007 . Therefore, the interest earned by you on the NRI deposits will be tax free. We, therefore, request you to remit more and more of your hard earned savings for various types of NRI deposits with us. Please feel free to write back for any other clarification/ information. We assure you the best of our services and await to see you in person when you come down to Goa again. With best of regards, R.D. Soman (Chief Manager PBD
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