NRI Taxation

An Indian Citizen who stays abroad for employment/ carrying on business or vacation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident.

Liability to pay tax in India does not depend on the nationality or domicile of the Tax payer but on his residential status. Residential Status is determined on the basis of physical presence i.e. the number of days of stay in India in any year.

 

 

NRI Taxation
 Sr. No. Rules
1. How to determine that an Individual is NRI. 115C
2. Special provision for computation of total income of non-residents. 115D.
3. Tax on investment income and long-term capital gains. 115E.
4. Capital gains on transfer of foreign exchange assets not to be charged in certain cases. 115F.
5. Return of income not to be filed in certain cases.115G.
6. Benefit under Chapter to be available in certain cases even after the assessee becomes resident.115H.
7. Chapter not to apply if the assessee so chooses.115-I
8. Annual statement of tax deducted u/s 203AA Rule No.:31AB
9. Application for certificate authorising receipt of interest and other sums without deduction of tax.