Section I: Income Tax Basics Determining residential status The conditions to be called as an Indian resident are: Staying in India for at least 6 months or 182 days during a financial year Or, Staying in India for 2 months/60 days in last financial year AND have stayed for whole year/36...
If you are an NRI, you would have to file your income tax returns if you fulfil either of these conditions which fall under section 115G Your taxable income in India during the Financial yeas was above the basic exemption limit (which for FY 2013-14 is Rs 2 lakh) You have earned short...
However, you do not meet any of these conditions. You will be considered an ordinarily resident Indian for tax purposes. If you are ordinarily resident in India, your income earned or received anywhere in the world is taxable in India. Therefore, income earned in Dubai will be...
Interest income is subject to deduction of tax at source Open an NRO Savings Account How to Apply Sign up for a Non-Resident External (NRE) AccountOpen NRE Account Sign up for a Non-Resident Ordinary (NRO) AccountOpen NRO Account Frequently Asked Questions What is an NRI Account? An NRI ...
An individual becomes a resident in India if he satisfies any one of the following conditions: (i) he has stayed in India for 182 days or more in the financial year; or (ii) he has stayed in India for 60 days or more in the financial year and his total stay in the earlier four ...
The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates. Prev Important reasons to open an NRI Savings Account Next Benefits of NRI Accounts...
NRI Banking Choose Asia's Safest Bank for all NRI Banking Services Learn more NRI Mutual Funds NRI mutual funds are a great investment option for NRIs who live overseas Learn more Alternative Funds Wide choice of risk and return Learn more ...
Income like rent, dividend, pension, etc. can be sent abroad through the NRO Account. Interest income earned on the amount in anNRO Accountis liable for TDS or Tax Deductible at Source. You can have other NRIs or Resident Indian as joint account holders in NRO Accounts. In case Resident...
Fully repatriable Indian Rupee account for your overseas income. Repatriate Principal and Interest from your account to abroad using Netbanking. Earn Tax free interest on your savings in the account. Appoint your loved ones in India as a Mandate holder so that they can operate the account on ...
A person is considered a resident in India if he is in India for 182 days during the financial year OR If he is in India for at least 365 days during the 4 years preceding that year AND at least 60 days in that year.When a person doesn’t satisfy both these conditions, he is term...