Nri buying property or sending money back home

Others 191 views 2 replies
what would be total tac liability he needs to bear as he will be already paying in other country
how to save mone on transferring his wealth to home country(india)
Replies (2)

NRI is not taxed in India for any income earned in foreign country.

He is not liable to pay any tax in India, when he brings back the capital to home country.....

Just comply the rules and regulations of the country from where the capital is brought in...

In this case , DTAA (DOUBLE TAXATION AVOIDANCE AGREEMENT) provisions will be established .Government has signed Agreement with other countries where it implies that if the person paying Tax in one country on the particular Income then he doesn’t required to pay the Income Tax on the same Particular Income .

So in the instant case, if the person has already paid taxes in foreign country then its taxability in India depends upon whether India has DTAA with the same Foreign Country .

If yes , then the taxpayer doesn’t required to pay tax in India else he have to pay.

To know more do read our blogs here AKT Associates 


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