Income Tax

FEMA/RBI Regulations

Frequently Earned Income By NRIs/PIOs

Generally, NRIs are earning their income outside India, where they are working. However, being home country or country of origin, they have certain assets in India, which fetch them regular or occasional income from those assets. There are specific tax provisions attached to these income transactions, as per the provisions of Income Tax Act, 1961 of India. Hence, it is very relevant for NRIs, PIOs to know these provisions. Generally, these incomes can be classified as: