Archive | NRI

Non Resident Seafarers to get tax exemption

CBDT has clarified tax liability for  remuneration received by a non-resident seafarer in NRE (non-resident external) account kept with an Indian bank. Salary of a non-resident seafarer for services outside India on a foreign ship will not be included in the total taxable income of the seafarer, even though such salary is credited in the […]

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NRIs without PAN: How to avoid higher TDS?

Those who are unable to furnish PAN details have to face higher TDS rates. This also applies to NRIs, and foreign company, who must furnish PAN information or else TDS will be deducted at maximum rates. In a recent circular the income tax department has eased the rules for NRIs who don’t have PAN or […]

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Income tax filing in India for NRIs

Income tax filing in India is different for resident Indians and Indians living abroad. Non-resident Indians (NRI) can be classified in different ways. How you e-file your tax returns would depend on your residential status of that particular financial year. You will have to file your income tax returns as a resident Indian if: You’ve […]

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Interest on NRE Deposits is taxable for Residents

For an NRI, interest earned on NRE deposits is exempt from tax in India. So long as you continue to be an NRI or a resident but not ordinarily resident – the tax exemption will continue to apply for these deposits held by you. Given the rules for finding out residential status, an NRI will […]

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