Taxable income for NRIs: 5 things to know All you need to know about the taxable income for NRIs
1.The salary that is received in India or salary for service rendered in India is taxable for non-resident Indians.2.Any rental income from a property located in India is also taxable.
3.Also included is the capital gain accounting from the transfer of property or assets in India.
4.The income from deposits in India, such as interest on fixed deposits.
5.Interest on NRO (non-resident ordinary) accounts only. NRE (non-resident external) and FCNR (foreign currency non-resident) accounts are tax-free.
Content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
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This story originally appeared on: India Times - Author:Faqs of Insurances
