Income Tax Payment On NRI – Quick Question Answer Session
If you are NRI then you can give the income tax payment with some certain condition and can file your income tax return under the income tax act. Being an NRI (non-resident Indian) you can not only pay your taxes but also can able to tell your income and expenses in front of government of India under some law and sections. They can pay the taxes on the income which they generated in India to the Indian government.
Today we have some very close information about the income tax payment in India for the NRI which will be very helpful for you to get to know whether your income is taxable in India or not and how much tax you have to pay in India as NRI. Let’s get to know.
- The main factor which is levied on the NRI is that they have to pay the income tax only on that income which they earned due to India and in India. It always include any type of income like income from house property, capital gain, business or any other.
You can get to know this by an example that if you have an house property in India and if it is rented then rent coming from this house property will be taxable. You can claim 30% deduction for the maintenance and repair of the property as the expenses but the rest amount will be taxable. You can also claim house loan and interest with it too.
After this you are liable to file the income tax return in India if your income is more than exemption limit.
- If you have any income on which your TDS is deducted but your income was not taxable according to slab rate then you can also claim that as Indian law never discriminate with any person. If you want to claim your income tax refund then you can claim it by filing your income tax till due date.
You have to give all the correct information about why you claiming your income tax refund and what are your income. Then they can refund your tax in your account.
- We always provide all the useful articles and information in our website and try to help you in every aspect. We made Bestquotesnwishes.com only for those people who are in need and want to file their income tax return and get to know how to file them and which information is needed to file them.
We always try to give you all the information in this regard whether you are business or professional person, salary class or any NRI then you can get some help from us and with them you can comment us too which will be answered to you by our experts at very quick basis. You can also take any help from us if you need it by calling on our phone number if you want to file your return too.
- Some people asked me about the rules of short term and long term capital gains if they are getting in as they are NRI.
Let’s come to know the condition of short term and long term capital gain if you are NRI as per India. If you are NRI and you are getting any long term or short benefit or income from any shares, mutual fund and any other things then you will not get the benefit of exemption according to age and gender which generally provided to resident Indian. In the case of NRI 15% rate is applied for the short term capital gain and 10 or 20% for the long term capital gain which is without the indexation.
- Some people asked me which income is exempt in the case of NRI which is also exempt for resident Indian.
There are some incomes which you find exempt too in the case of NRI which is generally exempt for Indian resident too.
- Equality and Mutual fund dividend is exempt which short term capital gain in India is only.
- If any amount of interest is received in some account like FCNR account or NRE account.
- Equity and mutual fund dividend which is long term but you have to the STT at the purchase time.
- Income of NSC interest and notified bonds purchased.
You will be noticed here at -:
It is that income which is taxable in India and exempt in India by which you able to know about the Income Tax Efiling return online in India.