Income Tax for NRI: Tax Rules for NRI’s moving Back to India
Tax Rules for NRI’s Moving Back to India
NRI’s returning back to India after serving many years in foreign countries will be termed as “NRI’s moving back to India”.
NRI’s returning to India assume RNOR status for which the conditions are mentioned below –
After returning to their home country, Income tax department allows RNOR’s to enjoy the same exemptions which are allowed to NRI’s but it is only given after 2 years. Therefore, deposits held in foreign currency which are exempted for NRI’s are also exempted for RNOR’s after living in India for 2 years.
What Clients Say
Prakash Verma
Praveen Chauhan
Pradeep Kochhar
Blogs
What is backdated income tax return (ITR)? Backdated ITR is a previous year/years ITR filed by the individuals to make their tax... Read More
On 22nd December 2020, GST department issued a notification no. 94/2020 and made specific changes in the GST rules which have already... Read More
Key Highlights of Union Budget 2021-22 Every eye was on the date of 1st February 2021, when our Finance minister Mrs. Nirmala Sitharaman... Read More
