Avail of Taxation Service For Non Resident Indian

Avail of Taxation Service for Non Resident Indian

The Income Tax of 1961 is the guiding law for payment of tax and the tax rate applicable for non Resident Indians. All the citizens of India have to pay the tax on the services and products they use in India. The common forms of tax include tax deducted at source, property tax, service tax and income tax.

Pay tax only income in India

The non-resident Indian (NRI) needs to worry about only the income tax. The first thing to see is whether the person is an NRI or not. Second, the income earned by the person from a foreign country will not come under the Income Tax Act. For all the income that he or she gets through capital gains or investment in shares or mutual funds in India, you need to pay tax.

Common things in NRI taxation

The Non resident Indian taxation specifies a basic smallest value for paying tax. If the income is less than this limit, then the person need not pay tax. In general, the NRI taxation has some common points. One is that the income has basis only on the income and does not depend on the things like age, gender or qualifications. You do not have nominal deductions on the income you get through investment. But, there are situations where you can claim this deduction. You can use the taxation service providers in Delhi to take care of the filing for you.

Suppose the person has TDS, then the charge is without any threshold value. All people paying the TDS will pay the same tax at the same rate. If Section 115G of the Income Tax Act is applicable then the NRI need not file an income tax return. The NRI can avail of deduction under the Section 80C. These include the following:

You can also get deductions under the Non resident taxation in India for things like making donations, preventive health checkups and payment of premiums for immediate family. The basic condition that determines whether a person is a resident of India or an NRI is the time he spends in India during the previous year. Check the tax filing service providers in Delhi for help.

Definition for NRI

An individual is a resident of India, if he or she has stayed for 182 days or more in India. Or, he or she must stay for 60 days in India during a previous year and 365 days or more in the year before that previous year. The short 60 day period gets extended to 182 days if the situation is one of the following:

In case the person does not meet the conditions laid out above, he qualifies as an NRI. If a person is an NRI for 9 out of 10 previous years, we call him as "Resident but not ordinarily Resident." Also, the same applies if he has stayed less than 729 days in India during the previous seven years.