NRI
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2010
What are the benefits to a NRI vis- a -vis a Resident Indian under our Icome Tax Act?
CA. Pradeep Nayak
(Expert)
27 July 2010
In case of a resident, his global income is taxable in India, subject to tax credit against tax paid if any, in the country of origin.
In case of a non resident, only income received or deemed to be received, income earned/accrued or deemed to be earned/accrued in India is taxable. Any income arising outside India is not taxble.
In case of a non resident, only income received or deemed to be received, income earned/accrued or deemed to be earned/accrued in India is taxable. Any income arising outside India is not taxble.
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