NRI Corner

As per the Income Tax Act, all sources of income other than agricultural income are taxable incomes. Therefore these are applicable on all the resident citizens who earn their income in India. In the case of NRI (Non Residential Indians), you are only liable to pay taxes for the income that is earned or deemed to be earned in India.

Taxable incomes for NRIs include:

Salary: Income earned from your salary in India or income received on your behalf is taxable.

Property and Assets: Any income or capital gain that you generate from the sale/ rent or lease of a valued property or an asset based in India will be taxed as per the Income Tax rules.

Securities and Investments: Income or capital gains from long-term or short term investments are liable to be taxed.