Frequently asked questions

Non-Resident INDIAN

For the purpose of income tax act citizenship is no criteria. The residential status is determined as per the rules specified in the Act.

No, NRI cannot claim rebate u/s 87A as it is available only to an Indian resident individual.

As per S. 160 of the Act, NRI can be represented through a representative assessee.

Yes, A NRI desirous of setting up a joint venture in India in collaboration with a NRI or Resident.

Interest earned from NRE is exempt whereas interest earned from NRO account is taxable as per income tax slab rates.

Yes, PAN is mandatory to invest in Indian mutual funds.

Yes, it is taxable as capital gains under the income tax act, 1961.

Yes, a NRI can become shareholder as well as director in an Indian Company.

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