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tax on interest income :RNOR status(resident not ordinarily)

Tax queries 1110 views 1 replies

Hello,

I'm a US citizen living in India for the past 3 years and obtained a PAN card as a normal resident and paying taxes. I left India on Feb 24 2009 and currently in the US. If I remain outside of India for 182 days in 2009, I understand I will have a Resident but Not Oridnarily (RNOR) tax status. I have interest income in India and I'm taxed at 30%. If my status changes to RNOR because of my stay outside of India, will I pay taxes for this year 2009-2010, at 10% or the normal resident 30%.

Please advise. Any help or pointers will be greatly appreciated.

Thank you.

 

Replies (1)

EVEN IN CASE YOUR STATUS IS RNOR FOR F.Y.2009-10, YOU SHOULD GO TO ASSESS AS NORMAL RESIDENT & CLAIM BASIC EXEMPTION LIMIT, 80C DEDUCTION , SLAB RATE OF TAX.

FURTHER THERE IS NO OPTION FOR RNOR TO PAY TAX @ 10% AS PER MY KNOWLEDGE ON INCOME EARNED IN INDIA


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