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NRI’s will be taxed solely on the income earned in India

February 03, 2020

NRI’s will be taxed solely on the income earned in India

NRI’s income earned by them will not be taxed until it is gained by any of the Indian business or profession for them. NRI working in income tax-free countries like UAE will have to pay tax only on their income generated in India, and not from the incomes outside the nation.

The income earned by Indian citizens outside the country will not be taxed in India, except in cases wherein the income may be derived from an Indian business or profession. Indians are now classified as NRIs if they stay overseas for over 180 days, as against 240 proposed in the Budget.

According to the sources, “An NRI living in another country earns money there, which is not taxed there at all, but has some earnings through something in India and does not pay tax here either because he does not live here. What we are saying is this: for the income generated in India, pay a tax. If you have a property here that generates rental income, but because you live there, you carry this income there and pay tax neither there nor here,’’ Finance Minister Nirmala Sitharaman said in a press briefing.

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