What’s Taxable For NRIs In India?
Salary or income received in India
Rental income from house located in India
Income from business set up or controlled in India
Capital gains income from capital assets such as house property, shares and securities, gold, etc.
Interest received in savings account and fixed deposits in India
***
Chirag Batra, 26, works as a software engineer in London and is a non-resident Indian (NRI) since 2018. “I have invested in fixed deposits and some other savings (instruments) in India. My earnings in London are not taxable in India. But I pay taxes on the earnings I get from the investments in India,” says Batra.
Batra is one of the many NRIs who work or stay abroad but have investments in India. Many are under the wrong impression or are not clear about whether their income or investments in India are taxable here or not. If you are an NRI and confused about whether or not to pay taxes in India, read on to get more clarity.
Are You An NRI For Tax Purposes?
Not all NRIs may be considered so under the...
The Present And Future Of Account Aggregation In India
29 March 2023