Ask a Question
No, NRIs don't have to pay taxes in India if they are generating a foreign income outside India, then it is not taxable. However, if they are generating a taxable income in India from various sources, like any rental property, from business interests, dividends, interests on indian accounts, and capital gains from the Indian sources, then they are liable to pay taxes in India.
No, you don't have to pay taxes on the foreign income sources in India. However, if you are generating an income in indian from the following list, then you need to pay tax in India as an NRI:
According to the Income Tax Act, 1961, if you are an NRI and generating an income or receiving an Income in India, then you need to pay the tax in India. It includes:
Share Your Thoughts and Connect with Others.
Section 90A of the Income Tax Act is applicable between the specific associations of two countries that have signed the Double Taxation Avoidance Agreement (DTAA). This Section allows for a...
Section 91 of the Income Tax Act applies to an individual who is eligible to claim the tax relief under a condition if the DTAA is not present between Indian...
Section 90 of the Income Tax Act, which is applied when is DTAA is present. This makes sure that not a single individual who works in a company or any...
NRIs can save taxes through various ways, like, From the NRO, NRE, and FCNR accounts, according to the Income Tax Act, 1961, interests earned on these accounts are tax-free in...
The FEMA limit refers to the Liberalised Remittance Scheme (LRS), under which all individual residents, including minors, are allowed to freely transfer funds for up to USD 250,000 in a...
A tax residency certificate is an important document that certifies an individual's tax residency status. This certificate is issued by the tax authority of a country and is also used...
Cross-border taxation for the NRIs refers to the NRI who generates an income from one country and lives in another country. It is a taxation that sets the rules and...
Let Savetaxs guide you to the perfect solution for all your queries.
If the income you are getting from indian sources, then you are liable to pay taxes in India, and the NRI income tax will depend on your residential status for the year.
Upon getting a salary in India from any services, business, or Indian registered company, you have to pay taxes in India, and if you get capital gains on the transfer of property in India. If the NRI is earning outside India, it is not taxable in India. Only the income you get from India or received in Indian is taxable. Any other income that is generated outside of India from any business or investments is liable to pay taxes in India. As an NRI, if you are not generating Income in India, then you don't need to pay tax in India.
Additionally, if an NRI whose Income is more than 2,50,000 or more, then he needs to file an Income tax return in India.