Dear customer, This is with regard to the Non Resident Ordinary (NRO) deposit(s) that you hold with The Hongkong and Shanghai Banking Corporation Limited, India ('HSBC India'/'Bank'). As you must be aware to avail the benefit of the tax treaty under DTAA, you are required to declare your tax residency status every financial year. In this regard, we wish to draw your kind attention to the recent amendments proposed in the Indian Income-tax Act, 1961 regarding the DTAA benefits. As per the current provisions of Section 90 of the Income-tax Act, 1961, the tax liability of a Non Resident Indian (NRI) customer is determined based on submission of the DTAA form, in absence of which the DTAA benefits do not accrue to such customers and standard tax rates are applicable. As per the above referred amendments which was proposed in the 2012-13 Union Budget, the benefits of DTAA would be available to a taxpayer (being a Non Resident Indian) only on obtaining a Tax Residency Certificate (TRC) from the government of the country of which such taxpayer is a resident and containing such particulars as may be prescribed. In view of the above provisions, HSBC India (Bank) would like to inform you that you would be required to submit theTRC in the specified format within 15 days of the issue of the notification by the Indian revenue authorities. Please note that a formal notification from the Income Tax department to this effect is still awaited. For updates regarding the notification and the prescribed TRC formats, you may visit incometaxindia.gov.in. Please note that in case you fail to furnish the TRC before the time period as specified above to the Bank, then the lower rate of tax deduction as per DTAA provisions would not be applicable and tax will be deducted at source on interest accrued on non resident savings account or term deposits held with HSBC India as per the applicable provisions of the Indian Income-tax Act, 1961. The tax deduction will be with effect from 01 April 2012. The applicable differential TDS (tax deducted at source) would be recovered from subsequent interest payments. HSBC India does not provide any guidance on tax matters and we request you to kindly consult your personal legal, financial, accounting and/or tax consultants for any clarifications in this regard. In case you have any queries pertaining to your accounts or any of the products offered by HSBC India, please feel free to call the NRI PhoneBanking numbers. Regards, HSBC India - NRI Services

	Issued by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India). Incorporated in Hong Kong SAR with limited liability. NRI deposits are under the Reserve Bank of India programme for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programmes, are subject to the sovereign risk arising from and governed by the laws of, or any changes to the laws of India. NRI deposits/accounts are held with The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India), and are not insured by any insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. NR accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited in India (HSBC India) under the Reserve Bank of India Non-Resident Indian Programme. Under current U.S. tax laws, U.S. citizens and residents are subject to tax on their worldwide income. You should consult your tax advisor for the U.S. treatment of income from these deposits. Privacy and Security | Terms of use | Hyperlink Policy © Copyright 2012. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India). Incorporated in Hong Kong SAR with limited liability. All rights reserved.