There are two main types of NRI savings accounts.
TDS is applicable only when the payment exceeds a certain amount, whereas TCS is applicable to sales of designated goods.
Union Finance Minister Nirmala Sitharaman said that VDAs would be taxed at 30 per cent.
Form 15G is submitted by any individual below the age of 60 years.
Form 16 is provided by employers to their employees which includes a detailed breakdown of the salary structure.