Taxation in INDIA For NRIs

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Perfect Guide on NRI Income Tax Rules and Policies in India

Posted on October 17, 2014 by HRBlockIndia
As a non-resident Indian have you been grappling with the constant challenge of how various incomes would be taxed in your home
country and in India? Are your decisions related to remittances, investments, property purchases and rentals marred at the thought
of taxes?
Though tax laws in different countries are difficult to fathom, they aren’t as perplexing as you thought. Take for instance the income
from abroad. The ground rule is that income which is earned outside India by an NRI is not taxed in India.
Similarly, there are a host of other incomes that aren’t taxed in India, but may or may not be touched in the country you are residing
in. We present a simple guide for Non-resident Indian to assist them in saving taxes by understanding which income will be exempt
and which won’t.
Income exempt in India
Most NRIs have bank accounts in India – either non-resident external accounts or foreign currency non-resident account. The good
news is that though Indian residents have to pay tax on their savings bank account interest above Rs. 10,000, NRIs are excused. No
taxes are to be paid on the interest arising out of these bank accounts.
You need not worry about paying taxes on income you earn abroad. Also, gains from money sent home to family members or for
investments are exempted (taxed at concessional rates under specific scenarios).
Income Taxed in India
Gains – long-term or short term – from investments or sale of assets such as house would be taxed in India. Also, rental income is
taxed in India, but a standard deduction of 30% of the rent (less municipal taxes) is available.
If you have inherited assets from Indian parents or relatives then you wouldn’t have to bear taxes when you gain control of these
assets. But later, recurring gains such as rental income or income from sale or transfer would be liable to tax.
Exempt in India, Taxed abroad
There are certain conflicts with regards to specific income with regards to tax laws in different countries. As a result, you would have
to bear the brunt of tax in your new country. For instance, dividends distributed by Indian companies are exempt in India, but taxed
in countries such as US.
Select long-term capital gains from Indian investments are exempt in India, but taxes are applicable as per the rules of the country
you now reside in.
Calculating taxes
If you only have capital gain income from shares and securities in India then you would not get the basic exemption limit. Your
shares, mutual funds and other assets when sold in India would be taxed just like residents. Equities held for more than a year are
exempt only in case of STT paid else it is taxable @ 10%, while non-equity funds have a different taxation structure based on when
they are sold. The entire gain made on investments in non-equity fund up to 36 months (12 months if prior to July 10, 2014) are
added to the income and taxed as per the bracket. While those redeemed after 36 months are taxed at the rate of 10%. In case of
assets other than Shares & securities sold before 36 months then they are taxed as per the regular bracket and if sold after 36
months are taxed at 20%.
Also remember that to avail the benefits of exemption under section 54, 54EC and 54F, and these can be availed only in case you
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invest the proceeding in India.
Paying taxes
Under most situations taxes would be deducted before making you payments, be it investments or rents, as mandated by the
Section 195 of the Income Tax Act.
But, if there are additional liabilities then you can pay the taxes online through a seamless process.
Tax filing
Even though you may have to face the tax brunt, it doesn’t merit filing income tax returns unless your income exceeds the
threshold limit. If your earning from all sources put together – rent, dividend, capital gains, investment income, etc – shoots beyond
Rs. 2.5 Lacs (Rs. 3 Lacs for those between 60 – 80, Rs. 5 Lacs for those above 80 years) for financial year 2014 – 15, then you would
have to file a tax return.
When your income exceeds the threshold, you should check whether you can skip filing tax returns through provisions under
Chapter (XII-A). Here, if all taxes have been deducted at source for specified income then there is an option wherein an NRI need
not file a return.
Also, if this income earned is a result of sale or transfer or regular income from foreign exchange asset then an NRI need not file tax
returns.
However, while filing returns in the country you reside in you should declare the Indian Income as you would get tax credit in
countries in a Double Taxation Avoidance Agreement (DTAA ) with India.
Steps to save taxes
Though one cannot escape tax completely, but s/he can claim deductions by investing in various investment avenues eligible for
80C. However, as an NRI you aren’t permitted to invest in National Saving Certificates (NSC), Senior Citizens Savings Scheme, Post
Office Time Deposits or open new PPF accounts or extend them.
Other taxation benefits under home loan, life insurance, pension plan, equity-linked savings schemes of mutual funds are allowed.
Tuition fee paid for spouse or children in India too can be claimed for deduction.
Health insurance policies or health check-ups paid for parents or dependants in India too are allowed for deduction under Section
80D.
If you aren’t willing to buy another property using the sale amount to save taxes, then long-term capital gains arising due to sale of
assets can be invested in tax-saving bonds such as those issued by NHAI or REC. But these are capped at Rs. 50 Lacs. Also,
investments into foreign currency bonds are taxed at 20% vis-à-vis the maximum tax rate of 30%. So, you can claim a lower tax rate
by investing in these bonds.
H&R Block India strives to blend tax expertise with a strong focus on continually improving the client experience to provide all its
clients with an unparalleled value proposition for E filing their Income Tax Returns Online .
Visit hrblock.in for more information or to find your nearest office to find assistance to file taxes .
This entry was posted in Tax planning and tagged NRI Income Tax Filing, NRI Income Tax Return, NRI Income Tax Rules, NRI Tax Saving.
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61 thoughts on “Perfect Guide on NRI Income Tax Rules and Policies in India”
ahmed ali
October 18, 2014 at 11:29 am · Reply
There is confusion about NIIT (net investment interest tax) .. U.S.citizens , living in India,on permanent basis, with all their income
from U.S.sources (no foreign income or assets).No relatives or real estate in U.S. Are they exempt from NIIT ?
HRBlockIndia
HRBlockIndia
October 22, 2014 at 2:45 am · Reply
Dear Ahmed,
Thank you for sending in your query, I would suggest for you to please fill in a enquiry form via the following link :
https://www.hrblock.in/contact-us/business-enquiry-form.aspx.
And one of Tax advisors will be able to help you out with the same.
Regards,
H&R Block India
HRBlockIndia
April 2, 2015 at 8:44 am · Reply
US citizens living anywhere in the world, are subject to NIIT tax. There is no exemption available.
p lal
March 6, 2015 at 7:26 am · Reply
for a “person of indian origin” with “canadian nationality” the capital gains accruing out of sale of his “only Residential property” in
India though totally exempted if invested in another residential property , what tax credit would accrue to avoid double taxation in
Canada ? Would he have to pay full capital gain tax in canada since he availed 100% tax exemption in india.
HRBlockIndia
Canadian “resident” has to pay tax on worldwide income and will have to pay taxes on any capital gain as well. The
gains are not exempt.
This rule applies only if he is residing in Canada, else it does not.
P Chandrashekar
Dear Sir,
Please let me know, whether Interest paid on Housing Loan is exempted under Income from House Property and Principal paid is
allowed as deduction u/s chapter VI A of the Income tax act, in India
HRBlockIndia
Yes. These are the allowed deductions. These can be claimed as loss from house property and adjusted against other
income.
RASHMIKANT PADH
I require the details OF section 194 DA of Income Tax Act which imposed from 01/10/2014 in which Life Insurance payout is covered
under this section.My main query is that NRI are also under this new tax proposal or not? If premium debited from NRI Savings A/c.
then what will be the Tax percentage to be paid to IT Department by the NRIs?
H RBlockIndia
April 17, 2015 at 12:59 pm · Reply
Provisions of Section 194DA will be applicable only in case of a resident policy holder. If policy payment is being made to
non-resident policyholder, the provisions of section 195 of the income tax act 1961 will be applicable. Section 195 doesn’t
mention any rate at which the TDS is to be deducted by the insurer while making payment.
The TDS in such case will be deducted at higher of the following rates for non PAN card holders u/s 206AA
a. The rate of tax in force for such income (i.e. applicable to nature of income) or
b. At 20%
In case you are a PAN card holder then TDS will be deducted according to the rate of tax in force for such income.
AC
Sir
I was staying in USA for 4 years (2003 to 2007) and came back to India in 2007. During my stay in USA I had invested in stock
market. I have been holding the shares since then. Now if I sell the shares in US stock market, am I liable for any tax on long term
capital gains here in India?
Kindly clarify.
Best Regards
H RBlockIndia
Considering the facts of the case and further assuming that you qualify to be a Resident and Ordinarily Resident (R & OR),
as per sec. 6 of the act for the F.Y. 2014-15, all your global income will be taxable in India. Further as per the amendment
of Finance Act 2014 any unlisted share (including foreign listed share) if sold after holding for a period of 3 years (36
months) or more then capital gain arising on the same post indexation will be taxable @ 20% (plus applicable cess)
Note:- You will be eligible to claim the benefit of exemption u/s. 54EC & 54F by investing in the specified assets. This
means that if you invest the gains from sale in some specified assets then you will not be liable to pay any taxes on
capital gains on sale of shares.
vijay desai
If an NRI (staying in US having Green Card or being US citizen) wants to buy Life Insurance Policy by paying premiums through
his/her NRE account in India,
(1). would he/she has to pay Tax on premium in US or India?
(2). Does he/she is required to declare this Insurance policy and premium paid thereof to US tax department?
(3). Does he/she has to pay any tax on maturity amount deposited by Insurance company to their NRE account on completion of the
Policy Term? (In India Insurance Maturity amount is non-Taxable)
Awaiting your reply.

Thanks,
Vijay (19/04/2015)
Saurabh
if person earning in abroad outside india in foreign currency n salary is credited in nre account in india but he doesnot complete his
182 days is that money earned in abroad in foreign currency is liable for tax
Thanks in advance
H RBlockIndia
In case you do not stay out of India for less than 182 days then you become a resident in India. Hence any income earned
by a resident whether in India or abroad is taxable in India. Hence the salary earned in this case is taxable in India.
N.S.Mehta
In terms of recent ITR, bank details are required to be furnished. In case of NRI , whether it is mandatory to give bank details held by
him in the foreign country where one is currently and not affected by indian Tax laws. similarly for NRE non taxable bank deposits in
India
Thanks
H RBlockIndia
Dear Mr Narendra,
Disclosures of bank accounts in foreign countries is not a condition while filing ITR in India. You must disclose all NRE
accounts in India in your ITR.
N.S.Mehta
as per the comment sent
N.S.Mehta
For NRIs Is it necessary to give bank details not covered by indian tax laws
thanks
H RBlockIndia
Dear Mr Narendra,
Your question is not clear to us. Can you please clarify?
For all NRIs who are filing IT returns in India disclosure of all bank accounts in India is required.
Nishi
May 17, 2015 at 3:03 am · Reply
Hi, as an NRI living in the US and holding a green card. I am salaried on a full time job here and filing taxes in the U.S. as well.
I hold property, under construction in India & NRO & NRE accounts. No income generated in india other than interst on bank account
balance for witch TDS is already decucted.
When filing taxes in india, do I also have to declare all income & bank acvount details in the USA?
Student
May 26, 2015 at 10:33 pm · Reply
Suppose a person left India 2 yrs back for a project through his employer in India and is likely to return back on completion of project.
For the years when his status was NRI, in the absence of any taxable income in India,
i) can he file ITR & claim deduction for repaying housing loan taken in India for a home in India self occupied by his family and
ii) carry forward the resulting HP loss to be adjusted against taxable income that shall arise after he returns to India?
Pls clarify,
Thank you
Rishi R
June 5, 2015 at 5:12 pm · Reply
I was abroad (Zurich) for a short term assignment ( 110 Days ,rest all days in India) in current FY through my company during which i
was paid salary abroad ( No indian salary during this period) and i paid taxes as per country rules there .
Do i need to include the foreign income while filing my IT return and do i need to pay taxes again .( if no do i need to disclose this
anywhere in IT return form , if Yes ; how should i calculate foreign income).
Adwin Anil Saldanha
June 13, 2015 at 5:11 pm · Reply
Dear Sir,
This is with regard to maturity proceeds from Setubandhan, traditional policy by SBI Life Insurance Company. I had invested Rs. 3
Lac on 26th May 2015. It got matured on 26th May 2015. I had funded this investment from my NRE account. I am residing in
Kuwait. Total amount at maturity turns out to be 4.5 lacs. Now they are saying that in case i fail to provide them with Tax Residency
certificate from kuwait, they will deduct 30.9% of 4.5 lacs. I am surprised to hear that. If i do not present TRC they can take 30.9%
of 1.5 lacs which they are giving and not on my money. They are reluctant to understand the concept. How can I stop them by doing
this. Can i get some circular related to this and please help me get out of this trouble. please, thank you
Hari
June 25, 2015 at 6:39 am · Reply
Hi,
I stayed in US from Aug ’14 to May ’15. till Aug’14 i got salary in India. from sep ’14 onwards i am getting salary in US. I sayed in US
More than 8 months. I have paid taxes in US and i have transferred my savings to india bank account. now i want to fill income tax
in india. which itrv from do i need to fill in india and where to show the transferred amount from us bank to india bank. Pls suggest
me how to fill income tax in india.
Thanks
Hari
M.VINAYAKA PRABHU
July 1, 2015 at 11:40 am · Reply
My son is an NRI, and is sending his savings to his NRE account. He has made some NRE fixed deposits out of his savings and its
earns interest. Please let me know whether he has to file IT returns if his interest income exceeds the limit prescribed .
Thanks & regards,
M.VINAYAKA PRABHU.
H RBlockIndia
August 11, 2015 at 6:31 pm · Reply
Income tax returns will have to be filed when income exceeds Rs.250,000 in a year i.e. from 1st April to 31st March. If he
files his return for the year then he can even claim his refunds for TDS deducted if any, since TDS is deducted at the
highest slab rates for NRIs.
S. J.
July 4, 2015 at 8:00 pm · Reply
Dear Sir / Madam,
I am an NRI residing in the US. I have been earning my annual wages and paying income taxes only in the US. I recently made an
investment on property in India by taking a loan at a bank in India. Can I claim returns on my income taxes in the US for the interest
paid on my home loan in India and on the property taxes paid in India? If so, could you please elaborate.
H RBlockIndia
Yes, you can claim the home loan interest and property taxes as Itemized deductions provided they are for a main home
or a second home. If the house is under construction, you can claim the interest only for 24 months until construction is
completed. It the property is rented out, the interest and taxes can be deducted against the rental income.
Larry Agrawal
As a NRI, I sold a residential property that I had bought in 2005, when I was resident in India. I have booked capital gains against
same and accordinly invested gains in NHAI bonds. All transactions have happened in INR and no foriegn exchange transactions
were incurred.
Now, I need to file my Income Tax Returns on ITR-2. My question- ” In ITR-2, what category should I use to indicate capital gains in
section B-1 of the ITR-2 form or B-7 of the ITR-2 form
Similarly, I have long term capital gains (losses rather) from sale of equity & MF with all transactions done from NRO account.
Under which category (resident or non resident) should I reflect in ITR
Sach Anand
Hi Sir
I am NRI living in UK, now recently got British citizenship and OCI. I would like to return and settle in India with British Citizenship. I
would like to know if my investments in Indian stocks/mutual funds for long term, would be taxed or will they be tax free for long
term investments just like Indian citizens do.
Thanks
Badri
Dear Sir,
I am a NRI and have two Resident Saving bank accounts and a Resident Demat account. The income is less than INR 1 lac a year.
Should I file my ITR. Please advise.
Rgds
Badri
H RBlockIndia
You need to file taxes in India only if your income is more than Rs 250,000 and hence if your income is only Rs 100,000 per
year then you need not file your returns or pay taxes in India.
V Sharma
What about bank interest income to an nri.

If the same is Rs 300000 PA what will be the tax liability
How much tds will be deducted by the the Bank
How the bank can be persuaded to not to deduct tds
H RBlockIndia
If you earn income of more than Rs250,000 then you are liable to pay taxes and hence you have to pay taxes at the slab
rate applicable to you. In this case you fall under the tax slab chargeable to tax @10%. Hence the total tax payable for
you (considering that 300,000 is the only income you earn in India)is (250,000 – 300,000)x10% = Rs. 5,000.
When it comes to TDS, NRIs are charged at the highest slab rates and hence banks will deduct TDS on your interest
@30.9%. However this amount can be claimed as a refund on filing your return of income in India.
Yogesh Shah
July 27, 2015 at 6:24 am · Reply
I’m Canadian citizen with OCI (Overseas Citizen of India) card earning interest income in India from investments made prior to
immigratng to Canada. What is tax treatment of this income in India & Canada ? I’m filing tax returns in Canada & India from
income earned in respective country.
H RBlockIndia
July 28, 2015 at 11:33 am · Reply
Hello Yogesh,
The interest income earned from investments in India will be charged to tax in India if it exceeds the threshold limit of
Rs.250,000 a year.
We deal only in US and India taxation and not in Canada taxes. Hence we will not be able to guide you in taxation of
these in Canada.
Yogesh Shah
Thank you for your prompot response. Can you suggest someone who could throw light on the Canadian
aspect ? I would appreciate this very much.
Yogesh
Shailesh
I am a NRI and online invested in Indian equities through my NRI PIS A/c. Recently I sold the Reliance shares and the HDFC
Securities/Bank deducted short-term capital gain tax on the profit.
1. What will happen if tomorrow I make a short term loss in the equity?
2. Can I claim back the excess tax deduction? Please Note: I had not filed my returns after I became NRI.
Kindly advice. Thanks. Shailesh.
Kamlesh
I am an NRI since last 20 years, last year I have invested in one company from my NRE a/c. the profit will be come in this year could
be 3 lac to 3.5 lac which will be deposited to my NRO a/c. ( they said profit cannot be deposit in NRE a/c.). I would like to know how
much income tax I have to pay. this is the only income I have in India. my family are in India and my 2 kids studying in school.
Please advice me.
Thanks
Kamlesh
H RBlockIndia
Hi Kamlesh,
You have earned income more than the threshold limit of Rs250,000 and hence it will be taxable. You will also have to file
your return of income and pay taxes due. The income tax payable would be determined only after claiming proper
deductions from this income an then applying the tax rate applicable to the net income from this investment. A qualified
tax advisor can guide you in this matter.
M ehta Vija ycha ndra

My son was in UK. from 2006 to 2011, & there after he has moved to kingdom of Bahrain. During his stay in U.K. he had purchased
a house on loan in U.K. for which he is still paying installments. He was paying income tax in U.K. as per rules. At present he is in
Bahrain. so , he has not to pay any tax at present as per that country rule.
So, from 2006 to 2015 continuing , his status is NRI.
My question is ,
As per the present new stipulation in India, what should do for his asset in U.K. ?
H RBlockIndia
The taxation rules in UK are different from India. Your son is an NRI and the property is out of India and hence it will not
be taxed in any manner in India. However if he files his taxes in India then he will have to disclose his foreign assets in his
return of income.
shan
Wl tds be applicable for payment by an Indian person for purchase of non resident shares…while making payment wl the Indian
person wl deduct n pay…if yes why???
sushma
i hyave invested in property in india mwhile i am living abroad from last 8 years. will i have to fill the income tax returns
H RBlockIndia
You will have to file taxes in India only if you earn income from this investment exceeding Rs250,000 in a year.
Alternatively you can also file your taxes in case you receive some interest income from India that is charged to tax at the
maximum marginal rates of 30%. You may claim refunds of your taxes by filing your taxes in India.
S Ray
August 13, 2015 at 12:11 am · Reply
I was employed with a company in Singapore from Jan 14 till Jan 15. As part of monthly salary, taxes relevant to my income were
deducted each month and will be paid by my employer accordingly to Singapore government.
I have a NRE account here and as per bank norms I need to redesignate my NRE account to residential account upon my return to
India permanently. Now, I am employed in Mumbai from March 10. Problem is I have not yet transferred my foreign income to NRE
account because of current lower exchange rates and would like to gradually do so in coming months when the exchange rates
improve. Can I continue to maintain my NRE account ?
My next question is whether I can keep my income in foreign bank for future transfer of money. If yes, by which month max. do I
need to transfer to avoid taxation in India. Since, I was a NRI for Financial Year 2014-2015 ( stayed in India < 60 days ), upto how
many months/years do I retain the NRI status.
moto
Foreign Income reporting guidelines for foreigners resident in India.

This is a question on Indian ITR filing requirements for OCI persons who have moved back and become resident of India past their
RNOR status.
Do they need to report rental income from their foreign residence in their Indian ITR? If yes, can they exclude mortgage interest and
property tax paid to maintain the property?
Jasbinder
Hi,
I was working in India and having salary income when I was in India, from Apr14 to Jun 14 (3 months) and accordingly TDS was
deducted by Co. Then I shifted to foreign and earning salary income and became NRI status. Because this salary is exempt no TDS
was deducted.
Now when I file return for Apr14 to Jun15 salary do I have to disclose the foreign salary also ?
Santa Kumar Chattri

Which section NRI (Totally US Income) file income is totally exmpted ………………???
rishi
I am nri and given money to my wife from my nre account who is residing in india.
My wife has short term capital gains investing in shares to which stt was paid.
How do i file my returns in india.
j
September 2, 2015 at 3:29 am · Reply
Can I ask questions without sharing my real name?
j
ok. thank you
jj
I am a GC holder and resident of the USA. I earn a salary in the USA and am in the 25% tax bracket. If in addition to being a
resident of the USA, I were to become a India resident by staying longer in India than the permissible period in India to remain a non
resident, what would be my India income tax bracket?
As I will first pay the tax in the USA as the source of income originates in USA how much will I pay in additional tax as my USA
income will place me in India in a higher tax bracket?
How will the Double Taxation Avoidance Treaty between the USA and India operate?
Is there anything in addition that a person like me who could be a resident in two countries have to anticipate when filing taxes in
both countries?
Ajit Kelkar
Advice Please,
I am senior citizen permanent resident of Australia thinking of returning back to India.

Both my children are citizens of Australia.
I have invested heavily into Mutual funds from my NRE a/c for long term.
After my demise how will my wealth be transferred to my children my only Kith and Kin ? Do they need to open NRE a/c now itself ?
I need to make a will yes ………..what else do I need to do.?
Please advice
Thank you
Gi
Hi,
I got Canadian permanent residence in May2014 (not citizenship). In FY2014-15 i was employed in India for about 50 days before i
got the canadian residence. After i got the new residence i was still employed in india itself for another 6 months till i got a new job
under a Canada employer & i moved there (not deputed by my old indian employer).
Because i am working in Canada as a local resident now, do i still have to pay tax from my new job from Dec14-MArch15 as global
income when filing indian ITR ??? I am already taxed in canada from Dec14 to March15 (the tax year in canada is from Jan to
December).
If i do have to declare, can i get tax credit in india, for the 4 months i’ll be paying tax in Canada ????
To get tax credit, do i have to be earning in the same tax-slab in both countries???
For tax purposes have i resided, in india for 182 days as an indian resident (since my residence status changed before i completed
182 days in india) ???
Yuvaraj
Dear Sir, I am a NRI. I got a Resident savings account in SBI which i have opened while i was in India. Last year June 2014 I have
remitted Rs. 1.5 Lakhs from abroad and made a Fixed Deposit of that Rs. 1.5 Lakhs in my savings account at the Interest rate of
5.5% per annum for which i got interest of Rs. 6987 and recently I came to know about Tax Deducted at Source (TDS), when I
checked in my Sbi Acc income tax certificate for the financial year April 2014 – March 2015, bank deducted and paid interest of
Rs.576.00 for the FD interest. I Don’t know what to do to get refund.
Please help me in the below queries:
1) What should I do now to get refund of that income tax paid by bank?
2) As a NRI can I have Fixed Deposit in my Normal Savings Account?
3) Can I Submit Form 15G to avoid Tax Deducted at Source for the financial year April 2015 – March 2016?
4) Let say right now I have FD of Rs. 5 Lakhs at the Interest rate of 7.75% and FD interest income will be Rs.39890 for the financial
year 2015-2016. I don’t have any income in India other than this FD interest income. May I still need to pay any income tax for FD
interest income for next year? If so, then how much will be income tax?
Thanks in advance for replying.
Sumit Sethi
September 21, 2015 at 1:32 pm · Reply
Have a small query about which I’m getting mixed opinions. Hence requesting your expert help on the issue.
I am an Indian national.
I have a resident Visa of UAE and am on training and troubleshooting visits about 60-90 days a year to the UAE. Fot that i have a
fixed earning in Dhirams per month being paid in UAE itself.
I HAVE NEVER TRANSFERRED OR BROUGHT BACK THIS MONEY TO INDIA AND NEVER INTEND TO DO SO EITHER.
I use that earning for my expenditure in the UAE itself.
So… Am i liable to declare and pay tax in India on that amount which i am earning there and never intend to bring back here?
I Shall be very grateful for for reply.
Thanks.
Hitesh Khatri
Dear Sir,
I am doing service in Dubai. My company sent all my salary in my Saving bank account of SBI bank. They already sent more than 20
lakh this year. So there any difficulty that i will face or its ok ? Please advice.
Pankaj
Hi Team HRBlock,
I am Indian Resident, going US during Jan, next year.
So far I have invested around 1 Cr. in equity. I am looking to keep it invested for next 3-4 year till I come back from US.
Do any realized/notional LTCG on Indian equities are taxable in US under “Global Income” ?
Pankaj
Vijay Pandit
Hello HRBlock,
I own a property back in India. I am jointly registered for this property with my mother (residing in India). My parents recently rented
out the property in India. But, I am not receiving any proceeds from the rent. All the rent goes to my father’s account, for which he
files Indian taxes.
Is there any need for me to declare this in my annual US taxes ?
Thanks,
Vijay
satya prakash
October 5, 2015 at 3:01 pm · Reply
I am using a ptc (paid to click) site to earn money and the earnings are in dollar .Also sometime I use my earnings to purchase
services on the site itself.(I live in india)
Then I use paypal to credit my earning in my bank account in rupees .

Does I have to pay tax . If yes then does i have to pay tax on my purchases also or only on the amount I received in my bank
account .
Thnks in advance
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Taxation in INDIA For NRIs

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Taxation in INDIA For NRIs

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Blog File Taxes Online

Perfect Guide on NRI Income Tax Rules and Policies in India

Income exempt in India

Income Taxed in India

Exempt in India, Taxed abroad

Steps to save taxes

Awaiting your reply.

as per the comment sent

Dear Sir / Madam,

What about bank interest income to an nri.

M ehta Vija ycha ndra

Foreign Income reporting guidelines for foreigners resident in India.

Santa Kumar Chattri

Can I ask questions without sharing my real name?

ok. thank you

I am senior citizen permanent resident of Australia thinking of returning back to India.

Then I use paypal to credit my earning in my bank account in rupees .

OZ0V2Pfvz9Ls * Copy This Password *

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