Income Tax for NRI: Income Earned Abroad Taxable in India or not

Is My Income Earned Abroad Taxable in India?

An NRI’s income taxes in India will depend upon his residential status for the year.

• If your residential status is ‘resident’, your worldwide income will be taxable in India.
• If your residential status is ‘NRI,’ income earned or accrued by you in India will only be taxable in India.

Taxable Income for NRI in India

Salary received in India or income from service provided in India, income from interest on fixed deposits or savings bank account, income from house property situated in India, capital gains on asset transfer situated in India are all examples of income earned or accrued in India. All these incomes mentioned above are taxable in India for an NRI.

Non-Taxable Income for NRI in India

There is no tax levied in India only if the income is earned abroad. Any Interest earned by an individual on NRE and FCNR account is tax-free but Interest on NRO account is taxable for an NRI.

Last Date to File Income Tax Return in India for NRI’S

In case of NRI’s, July 31st is the last date to file income tax return in India.