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 May, 2021. 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

    Jun 07th ,2021
  • Monthly GSTR 8 (Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators) for May 2021

    Jun 10th ,2021
  • Monthly GSTR 7 (Summary of Tax Deducted at Source (TDS) and deposited) for May 2021

    Jun 10th ,2021
  • GSTR 6 (Details of ITC received and distributed by ISD) Monthly Filing Due Date for May 2021

    Jun 13th ,2021
  • Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of April, 2021

    Jun 14th ,2021
  • Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of April, 2021

    Jun 14th ,2021