Obligations

What an NRI must keep up with

• File an Indian return when your Indian income (rent, interest on NRO deposits, capital gains) is above the basic exemption limit, or to claim back tax deducted at source.
• Interest on NRE and FCNR deposits is tax-free in India. Interest on NRO deposits is taxed, and the bank deducts tax before paying it.
• Keep bank accounts right: resident accounts become NRO accounts when you become an NRI, and resident accounts again when you return for good.
• Keep KYC current (address, status, contact details) with banks, mutual funds, depositories and insurers.
• Report where you live: the country you live in may tax your Indian income and ask about your Indian accounts (FBAR and FATCA in the United States, for example). Double Taxation Avoidance Agreements stop the same income being taxed twice.
• PAN and Aadhaar: NRIs need not link them, but make sure the tax portal shows your status as non-resident.