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NRI Tax Staying in India for 183 days  Staying in India more than 182 days! will I have to file income tax in India? The mere fact, that a person spends six months in India does not make them liable to file an income tax return, in India. The requirement to file a tax return in India generally arises . . .
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How Residency works for tax on NRI NRIs and PIO are liable to pay taxes in India, depending on their residency status and the source of income. Persons of Indian Origin, who return to India for permanent settlement, should be aware that at some point of time, their foreign income may also become taxable in India . . .
How Tax Agreements help NRIs  One of the major concerns that NRIs have is dual taxation.  No one wants to pay taxes in two countries and many countries tax their residents on their worldwide income.  To provide some relief from dual taxation to their citizens, many nations have signed bilateral double taxation agreements with each other. These agreements . . .
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Income exempt from taxes in India Every person, whose total income for the previous year is more than the tax free income allowed for their category, is required to file Income Tax Returns in India, under the provisions of the I.T. Act, 1961. Tax free income allowed for each category is called a 'slab' in India. The Income Tax Slabs show the amount of income that . . .
TDS deducted by Indian banks Any non-resident who continues to earn income in India, while living abroad is subject to tax in India. Normally in many instances, such as interest received on NRO bank accounts or perhaps even rental income, such tax is deducted in the form of TDS. Interest earned on NRE accounts, as well as other foreign currency accounts such as  . . .
How to get a Residency Certificate Tax residency certificate is a document that basically certifies that a person is a citizen of a country for tax purposes. This certificate entitles individuals to take advantage of benefits that may be available to them under tax treaties between governments. To get a residency certificate . . .
Tax tips for US Citizens living in India Citizens of the United States who hold OCI status and have relocated to India, as well as those who have business interests in India, should ensure that they continue to comply with IRS laws. There appears to be an extra push in the United States, to recover taxes from their citizens, who may have assets and undeclared income abroad, the new . . .
Save capital gains in India not US! When property is sold in India that results in a capital gain, the tax becomes due in your next tax filling date. Tax can be exempted in India if the capital gains are invested in bonds such as NHAI or REC. This does not necessarily mean that they are also exempt in USA . . .
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US Citizens in India, who must file tax Those who hold 'Green Cards' are resident aliens, and the same tax rules that apply to U.S. citizens, generally also apply to green card holders. Rules for filing income, estate, gift tax returns and for paying estimated tax, are generally the same whether you are in the United States, India, or any other part . . .
Reporting Foreign Bank Accounts IRS FBAR is a report of foreign bank and financial accounts held by U.S. Citizens/residents abroad. If you are a U.S. citizen or green card holder who has bank accounts abroad, you must file a FBAR report on Form 90-22.1 If the aggregate value of the accounts exceeds $10,000, during a calendar year. The FBAR is due by . . .
NRI Taxation - Quick Links        Things NRIs should know about!
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NRI Tax Staying in India for 183 days  Staying in India more than 182 days! will I have to file income tax in India?  The mere fact, that a person spends six months in India does not make them liable to file an income tax return, in India.  The requirement to file a tax return in India generally arises . . . Read more Read more Read more Read more Read more Read more Read more
How Residency works for tax on NRI NRIs and PIO are liable to pay taxes in India, depending on their residency status and the source of income. Persons of Indian Origin, who return to India for permanent settlement, should be aware that at some point of time, their foreign income may also become taxable in India . . .
How Tax Agreements help NRIs  One of the major concerns that NRIs have is dual taxation.  No one wants to pay taxes in two countries and many countries tax their residents on their worldwide income.  To provide some relief from dual taxation to their citizens, many nations have signed bilateral double taxation agreements with each other. These agreements . . .
Read more Income exempt from taxes in India Every person, whose total income for the previous year is more than the tax free income allowed for their category, is required to file Income Tax Returns in India, under the provisions of the I.T. Act, 1961.  Tax free income allowed for each category is called a 'slab' in India. The Income Tax Slabs show the amount of income that . . .
TDS deducted by Indian banks Any non-resident who continues to earn income in India, while living abroad is subject to tax in India. Normally in many instances, such as interest received on NRO bank accounts or perhaps even rental income, such tax is deducted in the form of TDS. Interest earned on NRE accounts, as well as other foreign currency accounts such as  . . .
How to get a Residency Certificate Tax residency certificate is a document that basically certifies that a person is a citizen of a country for tax purposes. This certificate entitles individuals to take advantage of benefits that may be available to them under tax treaties between governments. To get a residency certificate . . .
Tax tips for US Citizens living in India Citizens of the United States who hold OCI status and have relocated to India, as well as those who have business interests in India, should ensure that they continue to comply with IRS laws. There appears to be an extra push in the United States, to recover taxes from their citizens, who may have assets and undeclared income abroad, the new . . .
Read more Read more
US Citizens in India, who must file tax Those who hold 'Green Cards' are resident aliens, and the same tax rules that apply to U.S. citizens, generally also apply to green card holders. Rules for filing income, estate, gift tax returns and for paying estimated tax, are generally the same whether you are in the United States, India, or any other part . . .
Reporting Foreign Bank Accounts IRS FBAR is a report of foreign bank and financial accounts held by U.S. Citizens/residents abroad. If you are a U.S. citizen or green card holder who has bank accounts abroad, you must file a FBAR report on Form 90-22.1 If the aggregate value of the accounts exceeds $10,000, during a calendar year. The FBAR is due by . . .
NRI Taxation - Quick Links        Things NRIs should know about!
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Save capital gains in India not US! When property is sold in India that results in a capital gain, the tax becomes due in your next tax filling date. Tax can be exempted in India if the capital gains are invested in bonds such as NHAI or REC. This does not necessarily mean that they are also exempt in USA . . .
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