New vs Old Tax Regime: Which is better for NRIs/OCIs

 Many changes have been proposed to the new income tax slab in Union Budget 2023. The basic exemption limit has been increased from Rs. 2.5 lakh to Rs. 3 lakh and the tax rebate has been hiked on income up to Rs. 7 lakh against Rs. 5 lakh earlier. However, the old tax slabs regime is still in effect. Hence, taxpayers can choose between the two regimes - New vs Old Tax Regime - when paying their taxes. So, which tax regime should NRI taxpayers choose after the announcement of union budget 2023 for NRIs?

Manoj Negi

· 7,051 views

How to Avoid TDS on NRO Account?

 For NRIs, the Non-Resident Ordinary (NRO) account is one of the NRI bank accounts they need to open after a change in their residential status. It allows individuals to manage their income earned in India and facilitates various transactions. However, one aspect that often concerns NRO account holders is the deduction of TDS on their NRO account transactions. NRIs who have invested in India usually have this query, “how to avoid TDS on NRO account’? In this blog post, we will clarify whether NRIs can avoid TDS on NRO account, and if not, then what are the ways by which they can minimize TDS on their NRO account.

Charu Dhasmana

· 12,481 views

Tax Residency Certificate (TRC) for Non-Resident Indians

 Non-Resident Indians usually have income from more than one country. Such incomes are subject to the application of tax in both countries due to local laws despite the fact that you are a tax resident in only one of these countries. In such situations, a tax residency certificate (TRC) can help NRIs avoid paying double taxes on income earned in both their country of residence and India under the Double Taxation Avoidance Agreement (DTAA).

Manoj Negi

· 13,826 views

NRI Income Tax Calculator: For Your Tax Calculation in India

 Income Tax for NRIs is quite a complex and confusing aspect of financial management. However, with the advent of technology and online tools, calculating taxes has become more accessible and convenient. One such tool that has gained popularity among NRIs is the NRI Income Tax Calculator. In this blog, we will explore functionality and benefits of the NRI Income Tax Calculator, shedding light on how it can help NRIs effectively manage their tax obligations.

Charu Dhasmana

· 10,387 views

New Rules for NRI Taxation in India FY-2023-24

 NRIs fall under the Income Tax Act, 1961. The income tax rules for NRIs vary greatly from those for residents. The status of an Indian citizen, whether a resident or NRI, is determined based on their physical presence in India during a financial year and the preceding 10 financial years. However, the residential status of an individual needs to be determined each year. Here are the new rules for NRI taxation in India.

Manoj Negi

· 29,223 views

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