How NRIs Can Save Tax?

Any non-resident of India is considered as liable for paying tax over capital gains. But Tax Exemption Certificate provides them rebate partially or fully on tax payment.

Who Is An NRI under Income Tax /Wealth Tax Act?

A non-resident is termed as the one not in India for:

182 or more days during relevant previous year

60 days or more during previous year

365 days or more during 4 years prior to previous year

Returned NRI permanently to India (RNOR)

Who Comes Under Resident But Not Ordinarily Resident (RNOR)?

NRI for 9 consecutive years

Resident during previous 7 years prior to the previous year

Is there any tax deduction for NRIs? If yes, then how & who provides?

Yes, it is. Assessing Officer provides Tax Exemption Certificate

for lower or nil Rate of TDS.

How much time is valid for Tax Exemption Certificate (TEC)? 1 to 3 years

What is the tax exemption limit for NRIs’ interest income? Less than Rs. 1,50,000 (Can apply for TEC)

When & how much tax is chargeable over NRIs’ interest income?

When their interest income exceeds Rs. 2,00,000.

Chargeable tax: 33.99% *Can apply for TEC

What if an NRI Earns Profit Against Losses?

If he/she undergoes loss on selling partial shares & later gains on the sale of remaining shares, his/ her will be liable for paying tax. It will be calculated on capital gain at prescribed maximum rate.

*Can apply for TEC

Is re-investment of capital gains exempted from tax?

Re-investment may be exempted partially or fully but the tax is deducted from capital gains.

Will Tax Be Deducted Over NRIs’ Buy Back of Shares?

Yes, it will be charged at 33.99% or 22.66% on capital gains.

*Can apply for TEC

Contact to S2NRI

SERVICES 2 NRI

Corporate Office : Office # 511, The Summit Business Bay, Andheri Kurla Road, Opp. Western Express Highway Metro Station, Andheri East, Mumbai – 400069, INDIA.

Email ID : support@services2nri.comWebsite Url : https://www.services2nri.com

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