CA Arun Tiwari
Quick Summary
Introduction Investing in the Indian share market has become increasingly popular among Non-Resident Indians (NRIs) in recent years. With the constantly changing financial landscape, its imperative for NRIs to stay updated on tax regulations to ensure compliance. The year 2023 announced changes i
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FAQ :
The first step is to determine your tax residency status in India, as your tax liability depends on this.
Dividends are now taxable in the hands of the recipient NRI as per the applicable slab rates, as the Dividend Distribution Tax (DDT) was abolished in 2020.
NRIs need to gather documents such as Form 16A (for TDS details) and Form 26AS (a consolidated statement of tax credits).
The key steps include gathering documents, calculating total income, filing the appropriate ITR form, claiming tax benefits, and paying any remaining tax.
NRIs should be aware of the implications of the Equalization Levy, changes related to the Prevention of Treaty Abuse, and considerations for digital taxation.
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