A Complete Guide to Taxable Income for NRIs in India
Moving abroad doesn't automatically end your tax obligations in India. Your taxability in India is primarily determined by your residential status under the provision of the Income Tax Act. As long as you have income from India, such as rental income from property ownership, investing in Indian stocks and mutual funds, earning income through pensions, and so forth, you could be liable for payment of tax in India. It is all about how the income originates and not where you reside. Taxable income for NRIs in India includes income that is earned or received in India, while income earned outside the country is generally not taxed in India. In this blog, we'll explain which income is taxable, what income remains exempt, and the tax slabs that apply to NRIs. Which Types of Income are Taxable for NRIs? As an NRI, only income that has its source in India is usually taxable. Here's a closer look at the different types of income that fall under the Indian tax net. 1. Salary Income I...