NRIs are taxed solely on their Indian income, which encompasses salary received or accrued in India, income from house property in India, income from business or profession set up in India, and capital gains on transfer of assets in India. The salary earned by Indian workers in Gulf countries such as Saudi Arabia, UAE, Oman, and Qatar remains exempt from Indian taxation. Get more Income Tax News and Business News on Zee Business.
According to the Income Tax Act, 1961 a homeowner can show in his/her income tax return (ITR) up to two houses as self-occupied. Read below to find out how is income from self-occupied house properties calculated.
India Budget 2021: TDS cut, remittance limit top NRI wish list
Dixit Jain/Dubai
Photo: PTI
Here s what taxes NRIs pay currently and what they are expecting from this budget.
As we approach the budget date, expectations from the Prime Minister Narendra Modi’s government seem to soar with every passing day. The budget is going to be different than before as for the first time it will be completely paperless in the wake of ongoing Covid-19.
Everyone has been facing tough time with current Covid-19 situation around the world, the businesses have suffered, job losses are plenty, household budgets have taken a turn. It can be said that this budget is going to be one of the most awaited budget as everyone hopes for a relief from the government.