TDS will not be deducted if the NRI resides in a country where DTAA is applicable provided the following documents are submitted at least once a year (During the pay-out period): FATCA/CRS (self-declaration form) Form 10F (self-declaration form) No Permanent Establishment (PE) declaration (self-declaration form) Tax residency certificate (TRC) issued by Govt. of respective country A list of major countries where DTAA benefits are available, and payment can be made without deduction of TDS subject to submission of mandatory documents are as under. No DTAA benefit is available for countries other than those mentioned in the below table, and payment will be subject to deduction of TDS irrespective of submission of mandatory documents. Country Country Country Australia Germany Ireland New Zealand Mozambique Norway Singapore Nepal Czech Republic Sri Lanka Oman Hungary UAE (Dubai) Philippines Iceland UK Portugal Uganda USA Netherland Mauritius Indonesia Sudan Vietnam Thailand Ukraine Kazakhstan Saudi Arabia Zambia Belgium France Switzerland Romania Ethiopia Poland In countries where DTAA benefit is not available or policyholders do not submit the mandatory document, TDS will be deducted at the following rates: Particulars Tax Rate* Aggregate Taxable payout is up to ₹ 50 Lakh 31.20% Aggregate Taxable payout exceeds ₹ 50 Lakh, but up to ₹ 1 crore 34.32% Aggregate Taxable payout is more than ₹ 1 crore 35.88% *Including applicable surcharge and cess. *This is as prevailing Tax rates. In case a valid PAN is provided, the policyholder can claim credit for TDS deducted by filing a Non-Resident Indian income tax return.