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Indian expats: What to know about changes in NRI residential status and related tax implications

Indian Income Tax Act: Everything you need to know on taxation of NRIs under Indian Income Tax Act

Tax Query: How freelancing income received from abroad is accounted for

Tax Query: How freelancing income received from abroad is accounted for
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NRIs – determination of residential status – again in limelight

NRIs – determination of residential status – again in limelight Authored by Suresh Surana There are over 28 million non-resident Indians (NRIs) settled outside India primarily concentrated in the US, UK, UAE, Saudi Arabia, Canada, Singapore, Hong Kong and other countries. The NRIs have always played an enormous role in India’s growth and economic progress due to investments in India and remittances made to India. Residential Status Crucial to NRIs Residential status is ascertained for each financial year (1 April to 31 March) separately. Residents are liable to tax on their worldwide income whereas non-residents are liable to tax only on income that accrues or is received in India. Hence, this is crucial for NRIs.

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