Home / Income Tax for NRI: Tax Rules for NRI’s moving Back to India

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”.

Tax Rules for NRI’s Moving Back to India

NRI’s returning to India assume RNOR status for which the conditions are mentioned below –

  • a)In case you are an NRI in previous 9 of the 10 financial years preceding the year of return.
  • n case you lived in India for 2 or less than 2 years in the previous 7 financial years.

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.

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Due Dates

  • Due date for deposit of Tax deducted/collected for the month of November, 2023. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

     Dec 07th ,2023

  • Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of November, 2023 has been paid without the production of a challan

     Dec 15th ,2023

  • Third instalment of advance tax for the assessment year 2024-25?

     Dec 15th ,2023

  • Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of October, 2023

     Dec 15th ,2023

  • Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of October, 2023

     Dec 15th ,2023

  • Due date for issue of TDS Certificate for tax deducted under section 194M in the month of October, 2023

     Dec 15th ,2023
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