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...
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...
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...
Tax benefits: Interest earned in an NRE account is exempt from Indian income tax while interest earned in an NRO account is subject to TDS as per Indian income tax regulations. Through DBS Treasures you can open one or both types of NRI savings account NRE Savings Account NRO Savings Account...
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as app...
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 ...
If you are a Non-Residential Indian (NRI) or a Person of Indian Origin (PIO), you will have different banking and investment needs. Since you are residing abroad, most of your income and savings will be in foreign denominations, e.g. US dollar, Euro, etc. As such, you might nee...
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...
The Finance Minister, in the Budget that she presented last month, has proposed three changes to the rules for deciding the residential status of an individual. An individual becomes a resident in India if he satisfies any one of the following conditions: (i) he has stayed in India for 182...
Yes. NRIs are permitted to keep deposits with public limited companies in India for a minimum period of three years subject to certain ceilings/conditions. Application for the purpose is required to be made by the company receiving the deposits through an authorised dealer. ...