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NRI OR INDIAN

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Manana Kith

Head of Operations

22 Points Posted on 30 September 2020

Hello Everyone,

Am I Indian or NRI? (in regards to accounting and income tax)

I was born and stayed in India for over 37 years. I am a Indian Citizen.

On 10 Jan 2020 , I came to USA, and I am presently residing & working in USA.

Before coming to USA, I only stayed in India all my life.

However in 2007 & 2015 I went for a foreign holiday for 5-6 days only to south east asia.

For all these year, I have simple savings account and current account in India, and used to file my income tax returns as resident indian and firm accounts.

Am I NRI or Indian now ?
What should I do now ?

Please advise and guide if possible ?

Regards

Replies (3)

Rama chary Rachakonda

Master in Accounts & high court Advocate

9620 Points Posted on 30 September 2020

In simple terms, an Indian citizen residing outside India for a combined total of at least 183 days in a financial year is considered to be an NRI. NRIs are eligible to vote, and most importantly, only the income that they have earned in India is taxable in India.