NRIs are typically taxed on income earned or accrued in India. The following types of income are usually subject to tax.
- Income earned from business or profession in India
- Income from a salary or employment in India.
- Rental income from properties in India.
- Capital gains arising from the sale of assets in India.
- Interest, dividends, or royalties earned from Indian sources.
- Any other income received in India.
Tax Rates for NRIs!
The tax rates applicable to NRIs are generally the same as those for resident individuals. However, certain types of income, such as long-term capital gains, may be subject to different tax rates or exemptions. It’s important to refer to the prevailing tax rates and provisions for the specific financial year to determine the applicable rates of NRIs.
Supportive Required Documents
- Proof of identity
- Proof of residential status
- Income Documents
- Capital Gains
- Tax Deductions and Exemptions
- Tax Residency and DTAA
- Foreign Income and Assets
- Permanent Account Number (PAN)