Nri rental income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2014
one NRI having a rental income of 1.75 Lacs pa and interest income of 50 k pa, please inform his tax liability
17 February 2014
Hi
Interest income is exemot & According to the Indian Income Tax Act, if a person (resident or NRI) owns more than one house property, only one of them will be deemed as self-occupied. There will be no income tax on a self-occupied property.
Thx
Interest income is exemot & According to the Indian Income Tax Act, if a person (resident or NRI) owns more than one house property, only one of them will be deemed as self-occupied. There will be no income tax on a self-occupied property.
Thx
AVTAR SINGH
(Expert)
17 February 2014
Rental income and interest income (other than NRE Account) in India is taxable in the case of NRI.
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