Taxes
Income tax for NRIs: e-filing, DTAA, TDS and refunds, forms 15CA and 15CB, and capital gains.
Tax for NRIs, in short
- What India taxes: only income earned or received in India: rent, interest on NRO deposits, capital gains on Indian assets, and salary for work done in India. Income earned abroad is not taxed in India.
- Tax deducted at source: banks, tenants and buyers of your property deduct tax before paying you, often at higher rates than a resident pays. File a return to claim back any excess.
- Lower deduction: apply to the Income Tax Department for a certificate if the tax deducted would be more than your real liability.
- DTAA relief: to use a Double Taxation Avoidance Agreement, get a Tax Residency Certificate from the country you live in and file Form 10F.
- Sending money abroad from an NRO account: the bank asks for Form 15CA, and for larger sums Form 15CB from a chartered accountant.
- Income Tax e-Filing
- DTAA — Comprehensive Agreements
- ClearTax — NRI Income Tax
- Income Tax Department
- OECD Tax Treaties
- ClearTax — ITR for NRIs