Interest income earned in India by an NRI is taxable in India. Banks deduct tax (TDS) @ 30% on interest paid to NRIs without any threshold limit. Where TDS has been so deducted on theinterest income, NRIs can submit their tax returns in India to claim the excess tax deducted as refund.

Who Should Buy

• NRIs earning interest from bank accounts (excluding NRE and FCNR accounts) in India.

Rental income from a property (residential or commercial) situated in India is taxable in India, irrespective of an individual’s residential status. Also, filing tax returns in India within the due date can help you claim and carry forward the losses resulting from any properties in India.

Who Should Buy

• NRIs owning up to 3 properties (residential or commercial) in India, whether rented out or otherwise.

Rental income from a property (residential or commercial) situated in India is taxable in India, irrespective of an individual’s residential status. Also, filing tax returns in India within the due date can help you claim and carry forward the losses resulting from any properties in India.

Who Should Buy

• NRIs owning more than 3 properties (residential or commercial) in India, whether rented out or otherwise

An investor in the stock market may be engaged in different types of trading such as equity delivery-based trades, mutual funds or F&O trading. The Indian Tax Law prescribes different tax treatments for different types of investments in the stock market. In case of NRIs, the bank at the time of disbursing the trade proceeds, deduct tax (TDS). Where TDS has been so deducted on your income from shares, NRIs can submit the tax returns in India to claim the excess TDS amount as refund and to claim capital loss on share trade.

Who Should Buy

• NRIs engaged in any kind of trading / investing activityon a recognized stock exchange during the year
• NRIs who have sold unlisted shares during the year (Private Limited Company shares);
• NRIs who have earned dividend income during the year.

Gain on sale of immovable property (including land) situated in India is chargeable to tax in India irrespective of an Individual’s residential status. In certain cases, at the time of sale of the property, buyers are required to deduct tax (TDS) on the amount paid to the seller. In case of NRIs, such tax deduction happens at the higher rate of 20%. NRIs can submit their tax returns in India to claim the excess TDS amount as refund. For consultation on tax planning to claim the tax exemption and also to calculate capital gain portion in advance on the sale consideration for TDS purpose, you can avail our ‘Tax Consultation Plan’

Who Should Buy

• NRIs who have sold their residential house property during the year
• NRIs who have sold any land or building during the year
• NRIs who have sold any agricultural land situated in an urban area during the year

Share of profit received by a partner from partnership firm or LLP is exempt from tax. However, remuneration and interest received by a partner from a partnership firm / LLP is taxable in the hands of the partner as business income.

Who Should Buy

• NRIs who are Partners in any Partnership Firm;
• NRIs who are Partners / Designated Partners in any LLP.

NRI’s professional or business income may get taxed in India if the business or profession is carried out through a business connection in India. Legal, Medical, Engineering, Architectural, Accountancy, Technical consultancy or Interior decoration etc are some of the professions specified under the Indian Tax law.

Who Should Buy

• NRIs earning income from business or profession set up in India (excluding income covered under Income from Partnership Firm / Limited Liability Partnership Plan).

Salary income of an NRI would be taxable in India only if the salary is earned for services rendered in India. Such income would be taxable in India irrespective of whether the income is received in India or abroad and whether it is received from a foreign employer or Indian employer.

Who Should Buy

• NRIs earning salary, including salary received from foreign employer, where salary is earned for services rendered in India.

Who Should Buy

• NRIs who have earned an income which is not specifically covered in any other Plan.