Taxability in India depends on the following: Residential status in India; source of income; and place of receipt of income. Residential status depends on your total physical presence in India in current financial year and previous 10 financial years. Residential status is dynamic and needs fresh determination for each financial year. There are three types … Read more
Being well-versed with the law is necessary for the citizen so that, he may not get stuck into any problem or issues. For the non-resident Indians, there are many laws and orders that they always have to keep in consideration in order to precede happy life. In this article, we are going to highlight about … Read more
Big news is coming for the NRI’s now from the Department of Economic Affairs. A few months ago in October, the Department of Economic Affairs (DEA) had said that if a resident, who opened an account under this scheme, and subsequently becomes a non-resident during the currency of the maturity period, the account shall be … Read more
Very important and useful news for all the non-resident taxpayers of India is that they won’t face any taxes in India now. Authority of Advance Rulings (AAR) has held that the salary income of a nonresident individual for services rendered overseas cannot be taxed in India, even when such salary is paid into a bank … Read more
It is very important for the NRI to know about the income taxes he has to pay to the government of India. As per the income tax rules of the country, it is required that the non-residential Indian should submit a particular amount of his earning in the form of income tax to the country. … Read more
Income tax is definitely a very important thing for people to consider. Whatever a person earns, he has to share a portion of the same to the government so that the money could be utilized in the welfare of people and also in the country’s development. Even a person who is not staying in India … Read more
The implementation of the Goods and Services Tax (GST) by the Indian government is having a marginal impact on non-resident Indians (NRIs), according to tax experts. The impact is being mainly felt on remittances and NRO and NRE accounts. Generally, banking charges are around 100 to 200 rupees per remittance; therefore, an increase of three … Read more
Income earned or accrued by NRIs in India is subject to tax in India. Section 195 of the Income Tax Act covers Tax Deducted at Source (TDS) on payments made by non-resident Indians. The rates and conditions for TDS are different for Non-Resident Indians compared to Indians. From time to time, the tax rules in … Read more
The tax rules for NRIs are totally different from those who are residing in India. For paying the tax and to get the best benefit out of the same, one must understand well the tax rules first. A lot of confusion is there with regards to the tax rules for NRI, and this is a … Read more
The laws for NRIs are all different from those of the residents of India. There are different norms for them for everything, and this is what it goes their investment in India as well. Now, coming to the investment of NRIs in India, then traditionally, NRIs have been more comfortable investing in real estate in … Read more