Rnor News

Money

Entire global income of RORs shall be taxable in India

Tax will be calculated on your total income for the financial year, including income from foreign sourcesWhen a property has been purchased from an NRI, TDS is required to be deducted on the payment made

2 min read28 Oct 2019
Money

Salary transferred by foreign employer to India account is usually not taxable

It is recommended that you receive the salary locally where you are employed and then remit it as required by youIndian tax laws state that income that is received in India shall be taxable in India

2 min read27 May 2019
Money

No tax implication for NRIs buying a car in India

Car can be purchased in India by making withdrawals from non-resident external (NRE) account

2 min read25 Dec 2018
Money

NRI taxation: Country of residence may tax you on global income

The residence state taxing the taxpayer may result in the latter getting taxed twice on the same income

2 min read23 Oct 2018
Money

Only India-sourced income taxable for NRIs in India

Verify the exact period of stay in India in the current and earlier years to ascertain residential status

2 min read2 Oct 2018
Money

Interest income from FCNR exempt for NRIs, RNORs

For those who are Indian residents for tax purposes, interest income earned from FCNR deposits attracts tax

2 min read25 Sep 2018
Money

NRI taxation: Residential status needs to be fixed afresh every FY

It is always advisable to verify the exact period of stay in India in the current and earlier years

2 min read18 Sep 2018
Money

Entire global income is taxed in India for resident Indian status

If you are resident or non-resident but not ordinarily resident in India, you will be paying tax on income earned in India

2 min read17 Jul 2018
Money

Usually, returning NRIs have to pay tax only on their India income

Returning NRIs are considered RNOR if they have been an NRI in 9 out of 10 FYs preceding the year of return or if they lived in India for 729 days or less in the last 7 FYs

3 min read9 Oct 2017
Money

For resident Indians, income from anywhere is taxed in India

Once you are a resident in India, your income earned or received anywhere in the world is taxable in India

3 min read11 Sep 2017
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