My NRI son gifts Rs. 3,00,000 to me in India. What is my tax liability?
SBNRI Team
answered on 09/02/2021
Gift from an NRI Relative to a Resident Indian is exempt from tax in India for both giver and receiver. Therefore, you don’t have any tax liability in India.
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SBNRI Team
answered on 07/09/2023
The taxation on Mutual funds depends on the kind of mutual fund, i.e. debt or equity, and the holding period of the said mutual fund. Taxation for Equity Mutual Funds: In the case of equity mutual funds, any holding of less than one year will be termed as short-term, and selling of such investment […]
SBNRI Team
answered on 16/11/2020
The NRE FDs doesn’t need to be converted to resident accounts after you return to India. They can remain as-is till maturity. Post maturity, the NRE FD can be converted to a Resident Foreign Currency (RFC) Account. The interest earned on NRE Deposits that have been converted to RFC Accounts will be exempt from […]
SBNRI Team
answered on 10/09/2020
Taxation on Mutual Funds for NRI: Different types of Mutual Funds are taxed differently *(Equity Funds: An equity fund is a mutual fund that invests principally in stocks) *(Debt Funds: A debt fund is a mutual fund that invests in fixed-interest generating securities such as corporate bonds, government securities) Nature of Profits […]
SBNRI Team
answered on 05/03/2021
Non residents having income from salary in India are generally required to file their return in ITR Form 2. However, we need to thoroughly check all the different sources of income and then can decide which ITR form will be applicable. You can connect with our taxation expert directly on WhatsApp using the button […]
