Apply for NRI Taxation
Taxation is an essential aspect of personal finance, whether you are a Resident Indian or a Non-Resident Indian (NRI). However, when you get into the details, you will find that tax rules are different for NRIs. In this article, let’s understand the tax implications for NRIs.
Rules and Clauses
Any Indian if stayed in overseas or work there then there is no need to pay tax in India however, if get income from Indian business or any other source then, it is mandatory to pay tax in India.
NRI must pay income tax as per the guidelines.
10.0 lakhs- 12.5 lakhs – 20% tax rate
12.5 lakh – 15.0 lakhs – 25% tax rate
Above 15 lakhs – 30% tax rate.
A non- resident person is required to fill ITR Form – 2 to pay their returns.
NRI must file returns, if in case of age, if age is exceeds to 65 and your income is above 2.5 lakh you should pay Income Tax.