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Basic Exemption Limit for NRI (Income Tax)

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This query is : Resolved

( Querist )
19 February 2009

Dear All

I have a case where the assessee is a NRI and he has only income from capital gains in the previous year. Can he claim basic exemption limit of Rs 1,50,000 on such transaction?


CA. Mahesh Agarwal

( Expert )
19 February 2009

No exemption is only for residents only


( Querist )
20 February 2009


Thanks for such a speedy reply. If you don't mind can I also have some case law/reference under the Act where it is specific there is no exemption.

K V Subba Rao

( Expert )
20 February 2009

I agree with the view expressed by Sri mah_ias

The Querist may check the following link:

I hope the Querist doesn't expect us to copy and paste the entire discussion matter


( Querist )
20 February 2009

Dear K V Subba Rao

Thanks for the reply and the same is very much appreciated. As stated earlier I wanted only some references and not entire text. Thanks again for the reference.



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