Income earned abroad is not taxable in India, but other income (salary or income received in India or from a business in India) may be taxable for NRIs. Apart from these, rental income from houses located in India, interest received in a savings account and fixed deposits held in Indian banks, capital gains income from capital assets such as house property, shares and securities, gold, etc. are taxable in India.
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Once you have figured out which of your incomes and/or investments are taxable in India, find out the relevant tax slab so that you know your tax rate. Based on the income slab, NRIs may choose between the old and new tax regimes. Read more about the old and new tax regimes here.
For those whose earnings in India fall under the high-income tax bracket, it may be better to not go for the new tax regime. But there is a limitation here. A resident individual whose total income does not exceed Rs5 lakh is entitled to a tax rebate of 100 per cent of income tax or an amount of Rs12,500, whichever is less. This tax rebate is not available to an NRI.
The tax rates for NRIs and residents are the same but there are differences based on age. The basic exemption limit is Rs2.5 lakh, irrespective of age (for resident senior citizens above 60 to 80 years, the exemption limit is Rs3 lakh, and Rs5 lakh for super senior citizens above 80 years under the old tax regime). Surcharge and health and education cess rates are the same for NRIs and resident individuals.