Reference data — 31 countries
DTAA Tax Rates for NRIs: India's Treaty Withholding Rates by Country (31-Country Reference)
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A DTAA (Double Taxation Avoidance Agreement) is a bilateral treaty under which India agrees to cap the withholding tax it charges a non-resident on India-source income — interest, dividends, capital gains, royalties, rental — in exchange for the same concession from the partner country. Without a treaty, India applies its Section 195 domestic defaults: 30% on interest and other income, 20% on dividends from Indian companies, 12.5% on long-term capital gains from listed equity (Section 112A, post-Budget 2024), 12.5% flat on the total sale value of immovable property, and 31.2% on rental (30% + 4% cess).
The treaty rate overrides the default only when the NRI files a valid Tax Residency Certificate (TRC) from their country of residence together with Form 10F (being renamed Form 41 from FY 2026-27 under the new Income-tax Act, 2025) with the Indian deductor — the bank, mutual fund registrar, or property buyer. Most NRIs never file these, so banks deduct the full default rate, and the over-deduction sits with the Income Tax Department until the year-end ITR.
Where over-deduction has happened, NRIs can recover it for up to five preceding Assessment Years under CBDT Circular 11/2024 read with Section 119(2)(b) of the Income-tax Act — the Commissioner of Income Tax can condone the delay and allow a belated refund claim. Refunds carry 6% Section 244A interest.
This page lists India's treaty rates for all 31 countries we cover. Bahrain and Nigeria do not have comprehensive DTAAs with India — they appear in the tables with the default Section 195 rate and a footnote, because the absence of a treaty is itself a citation-worthy fact for those NRIs.All rates are stated before health-and-education cess and surcharge unless otherwise indicated. Rates are sourced from India's bilateral DTAAs as published by the Department of Revenue, Ministry of Finance, on incometaxindia.gov.in, cross-checked against the CBDT-published TDS DTAA rate table.
1. Interest income — NRO FDs, bonds, savings interest
The most-claimed DTAA rate. India's default Section 195 rate on non-resident interest is 30%; treaty rates range from 5% (UAE bank interest sub-rate) and 7.5% (Mauritius general) to 15% (US, UK, Canada).
| Country | Default Section 195 Rate | DTAA Treaty Rate | Treaty Article / Source | Annual Saving on ₹15L NRO FD (7% p.a.) |
|---|---|---|---|---|
| Australia | 30% | 15% | Article 11 | ₹15,750 |
| Bahrain | 30% | 30%(no DTAA) | No DTAA — Section 195 default applies (TIEA only) | — |
| Canada | 30% | 15% | Article 11 | ₹15,750 |
| Denmark | 30% | 15% | Article 11 | ₹15,750 |
| France | 30% | 10% | Article 12 | ₹21,000 |
| Germany | 30% | 10% | Article 11 | ₹21,000 |
| Hong Kong | 30% | 10% | Article 11 | ₹21,000 |
| Indonesia | 30% | 10% | Article 11 | ₹21,000 |
| Ireland | 30% | 10% | Article 11 | ₹21,000 |
| Japan | 30% | 10% | Article 11 | ₹21,000 |
| Kenya | 30% | 10% | Article 11 | ₹21,000 |
| Kuwait | 30% | 10% | Article 11 | ₹21,000 |
| Malaysia | 30% | 10% | Article 11 | ₹21,000 |
| Mauritius | 30% | 7.5% | Article 11 | ₹23,625 |
| Netherlands | 30% | 10% | Article 11 | ₹21,000 |
| New Zealand | 30% | 10% | Article 11 | ₹21,000 |
| Nigeria | 30% | 30%(no DTAA) | No DTAA — Section 195 default applies (no treaty) | — |
| Norway | 30% | 10% | Article 11 | ₹21,000 |
| Oman | 30% | 10% | Article 11 | ₹21,000 |
| Philippines | 30% | 10% | Article 11 | ₹21,000 |
| Qatar | 30% | 10% | Article 11 | ₹21,000 |
| Saudi Arabia | 30% | 10% | Article 11 | ₹21,000 |
| Singapore | 30% | 15% | Article 11 | ₹15,750 |
| South Africa | 30% | 10% | Article 11 | ₹21,000 |
| South Korea | 30% | 10% | Article 11 | ₹21,000 |
| Sweden | 30% | 10% | Article 11 | ₹21,000 |
| Switzerland | 30% | 10% | Article 11 | ₹21,000 |
| Thailand | 30% | 10% | Article 11 | ₹21,000 |
| UAE | 30% | 12.5% | Article 11 | ₹18,375 |
| UK | 30% | 15% | Article 12 | ₹15,750 |
| US | 30% | 15% | Article 11 | ₹15,750 |
| Source: India's bilateral DTAAs as listed on incometaxindia.gov.in. Default rate = 30% (Section 195). Treaty rate applies only when a valid TRC and Form 10F (Form 41 from FY 2026-27) are filed with the deductor. | ||||
2. Dividend income — Indian listed equity, mutual fund IDCW
India's default Section 195 rate on non-resident dividends is 20%. Most treaties cap individual-investor dividends at 10–15%. The US and Canada treaties give individuals zero relief because their 15% sub-rate applies only to corporate shareholders holding ≥10% of the Indian payer's voting power.
| Country | Default Section 195 Rate | DTAA Treaty Rate | Treaty Article / Source |
|---|---|---|---|
| Australia | 20% | 15% | Article 10 |
| Bahrain | 20% | 20%(no DTAA) | No DTAA — Section 195 default applies (TIEA only) |
| Canada | 20% | 20% | Article 10(2) |
| Denmark | 20% | 20% | Article 10 |
| France | 20% | 10% | Article 11 |
| Germany | 20% | 10% | Article 10 |
| Hong Kong | 20% | 5% | Article 10 |
| Indonesia | 20% | 10% | Article 10 |
| Ireland | 20% | 10% | Article 10 |
| Japan | 20% | 10% | Article 10 |
| Kenya | 20% | 10% | Article 10 |
| Kuwait | 20% | 10% | Article 10 |
| Malaysia | 20% | 5% | Article 10 |
| Mauritius | 20% | 15% | Article 10 |
| Netherlands | 20% | 10% | Article 10 |
| New Zealand | 20% | 15% | Article 10 |
| Nigeria | 20% | 20%(no DTAA) | No DTAA — Section 195 default applies (no treaty) |
| Norway | 20% | 10% | Article 10 |
| Oman | 20% | 12.5% | Article 10 |
| Philippines | 20% | 20% | Article 10 |
| Qatar | 20% | 10% | Article 10 |
| Saudi Arabia | 20% | 5% | Article 10 |
| Singapore | 20% | 15% | Article 10 |
| South Africa | 20% | 10% | Article 10 |
| South Korea | 20% | 15% | Article 10 |
| Sweden | 20% | 10% | Article 10 |
| Switzerland | 20% | 10% | Article 10 |
| Thailand | 20% | 10% | Article 10 |
| UAE | 20% | 10% | Article 10 |
| UK | 20% | 10% | Article 11 |
| US | 20% | 20% | Article 10(2) |
| Source: India's bilateral DTAAs as listed on incometaxindia.gov.in. Default rate = 20% (Section 195). Treaty rate applies only when a valid TRC and Form 10F (Form 41 from FY 2026-27) are filed with the deductor. | |||
3. Capital gains — Indian listed equity (LTCG)
Under Article 13 of most Indian DTAAs, capital gains on shares of Indian companies are taxable in India. India's domestic LTCG rate under Section 112A is 12.5% above a ₹1.25L annual exemption (post-Budget 2024). The Mauritius and Singapore treaties have grandfathering carve-outs for shares acquired before 1 April 2017.
| Country | Default Section 195 Rate | DTAA Treaty Rate | Treaty Article / Source |
|---|---|---|---|
| Australia | 12.5% | 12.5% | Article 13 |
| Bahrain | 12.5% | 12.5%(no DTAA) | No DTAA — Section 195 default applies (TIEA only) |
| Canada | 12.5% | 12.5% | Article 13 |
| Denmark | 12.5% | 12.5% | Article 13 |
| France | 12.5% | 12.5% | Article 14 |
| Germany | 12.5% | 12.5% | Article 13 |
| Hong Kong | 12.5% | 12.5% | Article 13 |
| Indonesia | 12.5% | 12.5% | Article 13 |
| Ireland | 12.5% | 12.5% | Article 13 |
| Japan | 12.5% | 12.5% | Article 13 |
| Kenya | 12.5% | 12.5% | Article 13 |
| Kuwait | 12.5% | 12.5% | Article 13 |
| Malaysia | 12.5% | 12.5% | Article 13 |
| Mauritius | 12.5% | 12.5% | Article 13 |
| Netherlands | 12.5% | 12.5% | Article 13 |
| New Zealand | 12.5% | 12.5% | Article 13 |
| Nigeria | 12.5% | 12.5%(no DTAA) | No DTAA — Section 195 default applies (no treaty) |
| Norway | 12.5% | 12.5% | Article 13 |
| Oman | 12.5% | 12.5% | Article 13 |
| Philippines | 12.5% | 12.5% | Article 13 |
| Qatar | 12.5% | 12.5% | Article 13 |
| Saudi Arabia | 12.5% | 12.5% | Article 13 |
| Singapore | 12.5% | 12.5% | Article 13 |
| South Africa | 12.5% | 12.5% | Article 13 |
| South Korea | 12.5% | 12.5% | Article 13 |
| Sweden | 12.5% | 12.5% | Article 13 |
| Switzerland | 12.5% | 12.5% | Article 13 |
| Thailand | 12.5% | 12.5% | Article 13 |
| UAE | 12.5% | 12.5% | Article 13 |
| UK | 12.5% | 12.5% | Article 13 |
| US | 12.5% | 12.5% | Article 13 |
| Source: India's bilateral DTAAs as listed on incometaxindia.gov.in. Default rate = 12.5% LTCG (Section 112A, above ₹1.25L exemption). Treaty rate applies only when a valid TRC and Form 10F (Form 41 from FY 2026-27) are filed with the deductor. | |||
4. Capital gains — Indian immovable property
Under Article 13(1) of every Indian DTAA, gains from immovable property are taxable in the source country (India). The Section 195 rate for non-residents is 12.5% flat on the total sale value (Budget 2024), which can be reduced to the actual gain using a pre-sale Form 13 / Section 197 Lower Deduction Certificate.
| Country | Default Section 195 Rate | DTAA Treaty Rate | Treaty Article / Source |
|---|---|---|---|
| Australia | 12.5% | 12.5% | Article 13(1) |
| Bahrain | 12.5% | 12.5%(no DTAA) | No DTAA — Section 195 default applies (TIEA only) |
| Canada | 12.5% | 12.5% | Article 13 |
| Denmark | 12.5% | 12.5% | Article 13 |
| France | 12.5% | 12.5% | Article 14 |
| Germany | 12.5% | 12.5% | Article 13 |
| Hong Kong | 12.5% | 12.5% | Article 13(1) |
| Indonesia | 12.5% | 12.5% | Article 13(1) |
| Ireland | 12.5% | 12.5% | Article 13 |
| Japan | 12.5% | 12.5% | Article 13(1) |
| Kenya | 12.5% | 12.5% | Treaty |
| Kuwait | 12.5% | 12.5% | Treaty |
| Malaysia | 12.5% | 12.5% | Article 13(1) |
| Mauritius | 12.5% | 12.5% | Article 13(1) |
| Netherlands | 12.5% | 12.5% | Article 13(1) |
| New Zealand | 12.5% | 12.5% | Article 13(1) |
| Nigeria | 12.5% | 12.5%(no DTAA) | No DTAA — Section 195 default applies (no treaty) |
| Norway | 12.5% | 12.5% | Article 13 |
| Oman | 12.5% | 12.5% | Treaty |
| Philippines | 12.5% | 12.5% | Article 13(1) |
| Qatar | 12.5% | 12.5% | Treaty |
| Saudi Arabia | 12.5% | 12.5% | Treaty |
| Singapore | 12.5% | 12.5% | Article 13(1) |
| South Africa | 12.5% | 12.5% | Treaty |
| South Korea | 12.5% | 12.5% | Article 13(1) |
| Sweden | 12.5% | 12.5% | Article 13 |
| Switzerland | 12.5% | 12.5% | Article 13 |
| Thailand | 12.5% | 12.5% | Article 13(1) |
| UAE | 12.5% | 12.5% | Article 13(1) |
| UK | 12.5% | 12.5% | Treaty |
| US | 12.5% | 12.5% | Article 13 |
| Source: India's bilateral DTAAs as listed on incometaxindia.gov.in. Default rate = 12.5% (Section 195, post-Budget 2024). Treaty rate applies only when a valid TRC and Form 10F (Form 41 from FY 2026-27) are filed with the deductor. | |||
5. Rental income — Indian residential and commercial property
Under Article 6 of every Indian DTAA, income from Indian immovable property is taxable in India. The Section 195 TDS rate on rent paid to a non-resident landlord is 31.2% (30% plus 4% health-and-education cess) regardless of treaty. Relief comes through the year-end ITR-2 filing where the actual liability is computed on the net rental (after standard 30% deduction and municipal tax).
| Country | Default Section 195 Rate | DTAA Treaty Rate | Treaty Article / Source |
|---|---|---|---|
| Australia | 31.2% | 31.2% | Treaty |
| Bahrain | 31.2% | 31.2%(no DTAA) | No DTAA — Section 195 default applies (TIEA only) |
| Canada | 31.2% | 31.2% | Article 6 |
| Denmark | 31.2% | 31.2% | Article 6 |
| France | 31.2% | 31.2% | Article 6 |
| Germany | 31.2% | 31.2% | Article 6 |
| Hong Kong | 31.2% | 31.2% | Article 6 |
| Indonesia | 31.2% | 31.2% | Treaty |
| Ireland | 31.2% | 31.2% | Article 6 |
| Japan | 31.2% | 31.2% | Treaty |
| Kenya | 31.2% | 31.2% | Treaty |
| Kuwait | 31.2% | 31.2% | Treaty |
| Malaysia | 31.2% | 31.2% | Treaty |
| Mauritius | 31.2% | 31.2% | Article 6 |
| Netherlands | 31.2% | 31.2% | Treaty |
| New Zealand | 31.2% | 31.2% | Treaty |
| Nigeria | 31.2% | 31.2%(no DTAA) | No DTAA — Section 195 default applies (no treaty) |
| Norway | 31.2% | 31.2% | Article 6 |
| Oman | 31.2% | 31.2% | Treaty |
| Philippines | 31.2% | 31.2% | Article 6 |
| Qatar | 31.2% | 31.2% | Treaty |
| Saudi Arabia | 31.2% | 31.2% | Treaty |
| Singapore | 31.2% | 31.2% | Article 6 |
| South Africa | 31.2% | 31.2% | Treaty |
| South Korea | 31.2% | 31.2% | Treaty |
| Sweden | 31.2% | 31.2% | Article 6 |
| Switzerland | 31.2% | 31.2% | Article 6 |
| Thailand | 31.2% | 31.2% | Treaty |
| UAE | 31.2% | 31.2% | Article 6 |
| UK | 31.2% | 31.2% | Treaty |
| US | 31.2% | 31.2% | Article 6 |
| Source: India's bilateral DTAAs as listed on incometaxindia.gov.in. Default rate = 31.2% (30% + 4% cess). Treaty rate applies only when a valid TRC and Form 10F (Form 41 from FY 2026-27) are filed with the deductor. | |||
How to use these rates
Apply the treaty rate at source where possible. The treaty rate only overrides the Section 195 default when the deductor — your Indian bank, mutual fund registrar, listed-company registrar, or property buyer — has a copy of your TRC and Form 10F on file before the deduction event. For NRO interest, banks are still required by Section 195 to deduct the 30% default; for mutual fund IDCW distributions and listed-company dividends, Section 196A allows the AMC/registrar to apply the treaty rate at source if Form 10F + TRC are on file with the Registrar (CAMS or KFintech) before the distribution date. File ahead of the dividend record date, not after.
Get the TRC from your country of residence. Each tax authority has its own process — UAE Federal Tax Authority via tax.gov.ae (AED 1,050–1,300, ~3-4 weeks), US IRS Form 6166 via Form 8802 ($85, 6-12 weeks), HMRC via Government Gateway (free, 6-8 weeks), Singapore IRAS COR via myTax Portal (free, 7-14 days), Canada CRA Certificate of Residency via My Account (free, 4-8 weeks). TRCs must contain the prescribed fields under Rule 21AB of the Income-tax Rules; where the foreign TRC does not, Form 10F supplies the missing particulars. Apply by mid-January if you want the TRC in hand before the Indian FY closes on 31 March.
File Form 10F (Form 41 from FY 2026-27) on the e-filing portal. Form 10F is e-filed on the Income Tax e-filing portal under e-File > Income Tax Forms > Form 10F. From FY 2026-27, the new Income-tax Act, 2025 replaces Form 10F with Form 41 — the substance is unchanged but the form number and portal location shift. Attach the foreign TRC PDF, your PAN, and submit. Give the signed PDF to your bank, AMC and any other Indian deductor.
Recover past-year over-deduction via Section 119(2)(b). If your bank has been deducting the 30% default on NRO interest for years because no Form 10F was ever filed, the over-deducted TDS is recoverable for up to five preceding Assessment Years under CBDT Circular 11/2024 read with Section 119(2)(b) of the Income-tax Act. The process: file the missed ITR-2 with the DTAA schedule, attach a written condonation petition to the jurisdictional Commissioner of Income Tax, and pursue the refund with 6% Section 244A interest. NRIs from no-DTAA countries (Bahrain TIEA, Nigeria) can use the same Section 119(2)(b) route where the over-deduction was because total Indian income sat below the basic exemption limit, or because Section 91 unilateral relief was missed.
DTAA rates — Frequently asked questions
- Which country has the lowest interest TDS rate under India's DTAA?
- Mauritius, at 7.5% under Article 11 of the 1982 treaty. This is the lowest general interest withholding cap in any of India's bilateral DTAAs (UAE's 5% applies only as a sub-rate for interest paid by banks under Article 11(3); Mauritius's 7.5% applies universally to post-31-March-2017 debt-claims). Most other Indian treaties cap interest at 10%, 12.5% or 15%. To use any treaty rate, the NRI must file a valid Tax Residency Certificate (TRC) and Form 10F with the Indian deductor before TDS is withheld.
- Do I need Form 10F if I already have a TRC?
- Yes. Form 10F is a separate declaration mandated under Rule 21AB of the Income-tax Rules and is required whenever any field prescribed in the rule is missing from your TRC — which is almost always the case for foreign-issued TRCs. From FY 2026-27, Form 10F is being replaced by Form 41 (CBDT notification under the new Income-tax Act 2025). Until then, e-file Form 10F on the Income Tax e-filing portal (login → e-File → Income Tax Forms → Form 10F), attach the TRC, and provide both to your Indian bank, AMC or registrar.
- How do I claim DTAA refunds for past Assessment Years?
- Under CBDT Circular 11/2024 (read with Section 119(2)(b) of the Income-tax Act), the Commissioner of Income Tax can condone delay and allow you to file a belated refund claim for up to five Assessment Years preceding the current one. The process: file the missed ITR-2 with DTAA schedule and Form 10F, attach a Section 119(2)(b) condonation petition to the jurisdictional CIT, and pursue the refund with 6% Section 244A interest. NRIs with NRO FDs that have been at the default 30% TDS for years recover the largest amounts via this route.
- Why does the DTAA give me zero savings on Indian dividends if I'm in the US or Canada?
- Both the India-US (Article 10(2)) and India-Canada (Article 10(2)) treaties bifurcate the dividend rate: 15% applies only when the recipient is a COMPANY owning at least 10% of the Indian payer's voting power. For individual portfolio investors, the treaty cap is 25% — higher than India's domestic Section 195 rate of 20%. Since India already applies the lower domestic 20%, individual American and Canadian NRIs get no treaty relief on Indian dividends. The real relief lever is the Foreign Tax Credit on Form 1116 (US) or T1 line 40500 / 47900 (Canada).
- What is the default Indian withholding rate if no DTAA applies?
- Under Section 195 of the Income-tax Act, the defaults for non-residents are: 30% on interest (NRO FDs, bonds, savings interest); 20% on dividends from Indian companies; 12.5% on long-term capital gains from listed equity above the ₹1.25L exemption (Section 112A, post-Budget 2024); 12.5% flat on the total sale value of immovable property (effective ~14.95% with surcharge and 4% cess for top-bracket non-residents, per the Budget 2024 amendments to Section 195); and 31.2% on rental income (30% + 4% cess). All of these can be reduced where a DTAA prescribes a lower rate AND the NRI has filed TRC + Form 10F.
- Do Bahrain and Nigeria NRIs get any treaty rate from India?
- No. India and Bahrain have only a Tax Information Exchange Agreement (TIEA, signed 31 May 2012, in force 11 April 2013) — TIEAs share data, they do not cap withholding rates. India and Nigeria have no comprehensive DTAA. For NRIs in both countries the full Section 195 defaults apply (30% on interest, 20% on dividends, etc.). The available relief levers are: Section 197 / Form 13 for a lower-deduction certificate (useful for property sales), Section 119(2)(b) condonation for past-year over-withholding where total Indian income was below the basic exemption limit, and Section 91 unilateral relief if you actually paid the source-country tax on the same income.
- Are DTAA rates applied at source by Indian banks and AMCs?
- It depends on the income type. For NRO interest under Section 195, banks are obligated to deduct the domestic 30% TDS regardless of treaty — refunds come through ITR-2 filing at year-end. For mutual fund IDCW distributions, Section 196A allows the AMC to apply the treaty rate at source if the unitholder files TRC + Form 10F with the Registrar (CAMS, KFintech) BEFORE the distribution date. For property sale TDS under Section 195, a pre-sale Form 13 (Section 197) Lower Deduction Certificate is the only way to apply a reduced rate at source. For dividends from Indian listed companies, the company's registrar will apply the treaty rate at source if TRC + Form 10F are on file.
- How long is a TRC valid, and how often must I refile Form 10F?
- TRC validity depends on the issuing country. UAE FTA, Singapore IRAS, Saudi ZATCA and Bahrain NBR issue TRCs valid for one calendar year (or the local tax year). HMRC (UK), DGFiP (France), CRA (Canada) and IRS Form 6166 (US) are issued per tax year. For India, the relevant period is the Indian financial year (1 April to 31 March), so most NRIs refile both the TRC and Form 10F annually before the FY rollover to avoid the bank reverting to the 30% default on the next interest credit.
Sources and citations
- Department of Revenue, Ministry of Finance — India's bilateral DTAA list (incometaxindia.gov.in). The authoritative public list of every comprehensive DTAA and limited agreement India has signed; treaty PDFs link from this page.
- CBDT — Circular No. 11/2024 (PDF), read with Section 119(2)(b) of the Income-tax Act, on condonation of delay for refund claims up to 5 Assessment Years.
- Income-tax Act, 1961 — Section 195 (TDS on non-resident payments), Section 196A (mutual fund distribution at treaty rate), Section 197 / Rule 28AA (Lower Deduction Certificate / Form 13), Section 112A (12.5% LTCG on listed equity, post-Budget 2024), Section 244A (refund interest at 6% p.a.).
- Income-tax Rules, 1962 — Rule 21AB (TRC particulars), Rule 21AB(2) read with Form 10F (to be replaced by Form 41 from FY 2026-27 under the Income-tax Act, 2025).
- Indian Supreme Court — Assessing Officer (International Taxation) v. Nestlé SA (October 2023), settling the MFN clause interpretation for OECD-member treaties (relevant for France, Switzerland, Netherlands dividend and interest rates).
- Country-specific TRC issuers — UAE Federal Tax Authority (tax.gov.ae), IRS Form 6166 (Form 8802 application), HMRC Certificate of Residence, IRAS Certificate of Residence, CRA Certificate of Residency, DGFiP Attestation de résidence fiscale, MRA Mauritius (e-services.mra.mu), and equivalents.
Rates and statutory references on this page are reviewed every quarter. For country-specific guidance — TRC process, treaty article references, and worked examples for typical NRI portfolios — see the per-country pages linked from each row above. For an interactive lookup that returns all 5 rates for a chosen country, use the DTAA rate lookup tool.