Tag: NRI

Know how NRIs can reduce tax deducted at source while selling property in India

When an NRI (non-resident Indian) sells a property in India, the buyer has to deduct TDS (tax deducted at source) and deposit the same with...

Kerala gets 14% more NRI deposits at Rs 2.27 lakh crore in 2020

Bank deposits by non-resident Keralites rose 14 per cent to Rs 2.27 lakh crore in the pandemic-hit 2020, proving wrong the prediction that the state...

Buying property from an NRI is not as simple as it might seem

So, if you are planning to buy a house, especially in the secondary market, it is possible that you might find a non-resident Indian (NRI)...

Double taxation sword hangs over NRIs’ heads, SC relief sought

Gaurav Baid, the 27-year old NRI chartered accountant, whose writ petition before the Supreme Court triggered a reaction from India’s direct tax authority, will once...

Amid Covid chaos, NRIs rush to buy homes in India

MUMBAI | BENGALURU: The global Indian is coming home — to a grand reception from home sellers. NRIs are scooping up properties in India with...

Yash Birla gets relief from tax tribunal; ruling set to have bearing on many other cases

MUMBAI: In what would have a bearing on several court battles between rich Indians and the Income Tax (I-T) department, a tribunal on Wednesday spared...

Treaties can help non-residents avoid paying tax twice on the same income

I used to live in Saudi Arabia and was applying for the Double Tax Avoidance Agreement (DTAA) certificate from the Saudi government to produce to...

NRIs can’t invest in certain specified govt bonds

I am a non-resident Indian (NRI) and I sold my flat in India in January 2018. I had invested ₹50 lakh in NHAI bonds under...

An NRI can file ITR and claim credit or refund due out of tax deducted in India

I am a non-resident Indian (NRI) living in the UK. We recently partitioned our ancestral properties and I got my share of ₹75 lakh. I...

NRI investments in Indian real estate

There are some important tax and regulatory considerations that non-residents should take note of before making investments in this sector, as generally, these investments are...

Income earned and directly received outside India not taxable for RNORs

—Ajay Gupta View Full Image Photo: iStock Effective financial year (FY) 2020-21, two new conditions have been added to determine residential status in India. The...

Residential status determines benefits you can get under DTAA

I had bought tax-free bonds from the secondary market. Upon redemption at the maturity date, I will be making a loss to the extent of...

Money gifted over Rs50,000 by an NRI friend in a financial year can be taxable

I am a small business owner in India and planning to open a chain of stalls. A Dubai-based friend of mine is contributing to the...

Four money changes NRIs need to make after returning to India

If you are an NRI and are considering returning to India, remember that it may not be that simple. Apart from lifestyle changes, you will...

A buyer is required to cut TDS at 20% on LTCG from sale of property by NRI

I am a UK resident and my brothers in India divided our father’s property, and I inherited some land parcels. I may transfer it to...

Lockdown period not to be counted for determining residency status of NRIs, foreign nationals: CBDT

Finance minister Nirmala Sitharaman on Friday allowed discounting of prolonged stay period in the country for determining the residency status, to provide relief to people...