Over the years, Non-resident Indians (NRIs) have invested substantial sums into Indian real estate either purely from investment perspective or due to an emotional attachment to their country of origin. Either way, the Indian government sees this as an important…
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For Indian expats, the UAE is their home away from home. Each has an amazing story to tell — business opportunities brought some, while the allure of a quality lifestyle made others settle their roots here since the early 1970s…
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For a person of Indian origin (PIO), what is the tax treatment for income generated from selling multiple properties? Capital gains on a property situated in India are always taxable in India. Whether a person has to pay tax in…
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Central Board of Direct Taxes (CBDT) has released clarifications in the form of frequently asked questions (FAQs) addressing some such matters and those relevant to NRIs are summarised below: If you are a non-resident of India (NRI), you need to…
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India is a country of strict and lengthy documentation procedures. Major paperwork is demanded in fulfilling all the formalities before you can actually own a property in India. But, buying a property in India for NRIs is a nightmare because…
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India’s federal and state governments have been endeavouring to strengthen relations with the Indian diaspora numbering about 30 million, including some 13 million Non- Resident Indians (NRIs) and 17 million Persons of Indian Origin (PIOs). The principal objective of the…
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With the passing of the Finance Bill 2019 in Parliament, some changes have been made in the rule regarding the taxation of gifts given by resident individuals to non-resident Indians (NRIs). According to changes made at the time of passing…
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For non-residents, only income earned, received or accrued in India is taxable Q. If someone goes out of the country for a year for a programme where the host country is an employer, and the person pays taxes in that country,…
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Higher surcharge for the super rich resident Indians are applicable for NRIs too A dampener for non-resident Indians is the move by the government to plug the loopholes in gifts tax. Currently gifts given by Indian residents to non-resident Indians…
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An NRI is spared tax on income outside India. A resident is required to pay tax on global earnings. MUMBAI: The investigation wing of the income tax (I-T) department is going through the ‘residential’ status of non-resident Indians (NRIs) with…
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