Dear Sir,
If my residential status under income tax act, stands RNOR .....will my Foreign source income of mutual fund and forex gain, will be clubbed in Indian income, as said income generated on my funds, sent from Indian NRE account.
Thanks
PK
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RNOR STATUS - FOREIGN INCOME / FOREX GAIN OF NRI INVESTED FUND
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Summary: As an RNOR, your foreign-sourced income (such as gains from foreign mutual funds) is generally not taxable in India, regardless of the fact that the initial funds came from your NRE account, provided that the income is not derived from a business controlled or a profession set up in India.
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