{"id":24776,"date":"2023-06-23T00:19:15","date_gmt":"2023-06-22T18:49:15","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=24776"},"modified":"2024-03-16T17:30:55","modified_gmt":"2024-03-16T12:00:55","slug":"non-resident-indiannri-income-taxable-in-india","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/","title":{"rendered":"NON-RESIDENT INDIAN(NRI) INCOME TAXABLE IN INDIA"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d25e2c9608d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d25e2c9608d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/#NON-RESIDENT_INDIANNRI_INCOME_TAXABLE_IN_INDIA\" title=\"NON-RESIDENT INDIAN(NRI) INCOME TAXABLE IN INDIA\">NON-RESIDENT INDIAN(NRI) INCOME TAXABLE IN INDIA<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/#SPECIFIC_PROVISIONS_WITH_INVESTMENT_INCOME_OF_NRI\" title=\"SPECIFIC PROVISIONS WITH\u00a0INVESTMENT INCOME OF NRI\">SPECIFIC PROVISIONS WITH\u00a0INVESTMENT INCOME OF NRI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/#INVESTMENTS_ELIGIBLE_FOR_SPECIAL_TREATMENT\" title=\"INVESTMENTS ELIGIBLE FOR SPECIAL TREATMENT\">INVESTMENTS ELIGIBLE FOR SPECIAL TREATMENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/#SPECIAL_PROVISION_IN_RESPECT_OF_LONG-TERM_CAPITAL_GAINS\" title=\"SPECIAL PROVISION\u00a0IN RESPECT OF\u00a0LONG-TERM CAPITAL GAINS\">SPECIAL PROVISION\u00a0IN RESPECT OF\u00a0LONG-TERM CAPITAL GAINS<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/#DEDUCTIONS_AVAILABLE_TO_NRI\" title=\"DEDUCTIONS AVAILABLE TO NRI\">DEDUCTIONS AVAILABLE TO NRI<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/non-resident-indiannri-income-taxable-in-india\/#Tax_Rates_on_Capital_Gains_on_Transfer_of_Securities_For_Individuals_and_HUFs\" title=\"Tax Rates on Capital Gains on Transfer of Securities (For Individuals and HUFs)\">Tax Rates on Capital Gains on Transfer of Securities (For Individuals and HUFs)<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NON-RESIDENT_INDIANNRI_INCOME_TAXABLE_IN_INDIA\"><\/span><span style=\"color: #000080;\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23521\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/10\/income-tax-return-is-not-verified.jpg\" alt=\"income tax return is not verified\" width=\"867\" height=\"649\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/10\/income-tax-return-is-not-verified.jpg 640w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/10\/income-tax-return-is-not-verified-300x225.jpg 300w\" sizes=\"(max-width: 867px) 100vw, 867px\" \/>NON-RESIDENT INDIAN(NRI) <\/strong><\/span><span style=\"color: #000080;\">INCOME TAXABLE IN INDIA<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Income from Salary: Your salary income\u00a0is\u00a0taxed in India under two situations.<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Situation A: If\u00a0it&#8217;s\u00a0received in India- If\u00a0you&#8217;re\u00a0an NRI and\u00a0you have got\u00a0received any salary in India directly into an Indian Account or somebody else has received it in your behalf in India, then such salary income would become taxable in India.<\/li>\n<li>Situation B: If\u00a0it&#8217;s\u00a0earned in India- Your income\u00a0is claimed\u00a0to be earned in India if\u00a0it&#8217;s\u00a0earned for services rendered in India. Therefore, if\u00a0you&#8217;re\u00a0a NRI and your salary earned is for the services rendered in India, it shall be taxed in India.<br \/>\nYou will be taxed at the slab rate to which your income belongs to.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol start=\"2\">\n<li>Income from House Property: Income arising from property located in India, whether in the form of rented or lying vacant and the same be taxed for an NRI. The calculation of such income shall be\u00a0within the\u00a0same manner as for a resident.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">An NRI, like resident is allowed<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>A standard deduction of 30%,<br \/>\n\u2022 To deduct property taxes,<br \/>\n\u2022 To take\u00a0advantage of\u00a0interest deduction if\u00a0there&#8217;s\u00a0an\u00a0equity credit line, and<br \/>\n\u2022 Claim the principal repayment of loan as deduction under section 80C. Also,\u00a0tax\u00a0and registration charges paid on purchase of a property\u00a0can even\u00a0be claimed under section 80C.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">It is to be noted that, where the income is received in NRO account, whether or not received directly, the same would be susceptible to\u00a0tax in India\u00a0since the\u00a0source of income i.e., the property is situated in India.<\/p>\n<ol start=\"3\">\n<li>Income from Other Sources: Indian sourced income\u00a0within the\u00a0sort of\u00a0interest on fixed deposits and saving accounts is taxable in India. However, the amount received in NRE and FCNR account shall be tax free, whereas that received in NRO account would be subject to taxation in India.<\/li>\n<li>Capital Gains: Any\u00a0sought of capital gain\u00a0arising in relation to transfer of capital asset, being situated in India, shall be taxed in India. Also, the capital gains on investments made in India in the form shares, securities shall\u00a0be\u00a0taxable in India.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">Where an NRI sell a capital asset, being a house property, then<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>TDS be deducted @ 20%, in case of Long-term capital gains, or<\/li>\n<li>TDS be deducted @30%, in case of Short-term capital gains.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">The buyer\u00a0whether or not\u00a0he&#8217;s\u00a0an individual\u00a0is\u00a0liable for\u00a0deducting tax at source and paying it to\u00a0the govt. Since the onus of deducting tax on payments made to NRI, lies on\u00a0the customer, and hence the same shall obtain a Tax Deduction\u00a0Account number (TAN) and issue a TDS certificate for\u00a0the same.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SPECIFIC_PROVISIONS_WITH_INVESTMENT_INCOME_OF_NRI\"><\/span><span style=\"color: #333399;\">SPECIFIC PROVISIONS WITH\u00a0INVESTMENT INCOME OF NRI<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-4037\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2021\/10\/Investment-Options-in-India-for-NRIs-v1.1-2.png\" alt=\"Investment-Options-in-India-for-NRIs\" width=\"962\" height=\"668\" \/><\/p>\n<p>As a NRI you&#8217;ll be able to avail of a special provision associated with investment income. A NRI income shall be taxed @ 20%, where he invests in certain assets in India.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"INVESTMENTS_ELIGIBLE_FOR_SPECIAL_TREATMENT\"><\/span><span style=\"color: #333399;\">INVESTMENTS ELIGIBLE FOR SPECIAL TREATMENT<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">The income derived from\u00a0the subsequent\u00a0assets in India acquired in foreign currency shall qualify for special treatment:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Investment in the shares of Indian Companies (Public or Private company)<br \/>\n\u2022 Investment in the debentures, being issued by a publicly-listed Indian company.<br \/>\n\u2022 Deposits made with the banks and public companies.<br \/>\n\u2022 Any security of the Central Government<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">No deduction under Section 80 is going to be allowed while calculating investment income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SPECIAL_PROVISION_IN_RESPECT_OF_LONG-TERM_CAPITAL_GAINS\"><\/span><span style=\"color: #333399;\">SPECIAL PROVISION\u00a0IN RESPECT OF\u00a0LONG-TERM CAPITAL GAINS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">On long term capital gain arising from the transfer or sale of those assets, no advantage of indexation and deduction under Section 80 is allowed. But you&#8217;ll be able to still save your taxes, by availing exemption on the gains earned under Section 115F. Under this, you&#8217;re required to reinvest the web consideration received within the amount of six months from the date of sale of the first asset, into the subsequent assets:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Shares in an Indian company<br \/>\n\u2022 Debentures of an Indian public company<br \/>\n\u2022 Deposits with banks and Indian public companies<br \/>\n\u2022 Central Government securities<br \/>\n\u2022 NSC VI and VII issues<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">The entire capital gain would be exempt if the entire of the net consideration is re-invested. However, if the price of recent asset purchased, falls short than the consideration, then the capital gain would be exempt proportionately, i.e.,<\/p>\n<p><strong>Total Capital Gain \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0X\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Cost of New Asset<\/strong><\/p>\n<p><strong>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/strong><\/p>\n<p><strong>Total net consideration<\/strong><\/p>\n<p style=\"padding-left: 40px;\">Exemption=<\/p>\n<p style=\"padding-left: 40px;\">NOTE: The exemption\u00a0is\u00a0withdrawn if the new asset purchased is transferred or converted into money within a period\u00a0of three\u00a0years from the date of purchase. The NRI is eligible to withdraw the amount from the special provision, at any point of time and in such an event, the investment income and LTCG\u00a0shall be\u00a0charged to tax as per the standard\u00a0provisions of Income Tax\u00a0Act, 1962.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-4032\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2021\/10\/Tax-Planning-for-NRIs..jpg\" alt=\"Tax-Planning-for-NRIs.\" width=\"978\" height=\"373\" \/><\/p>\n<p style=\"padding-left: 40px;\">Just like resident individuals, the NRIs have been provided with the exemptions under section 54, section 54EC and section 54F on long-term capital gains, arising on account of sale of house property. The long-term capital gain is often invested under:<\/p>\n<table style=\"margin-left: 40px; height: 1516px;\" width=\"921\">\n<tbody style=\"padding-left: 40px;\">\n<tr style=\"padding-left: 40px;\">\n<td style=\"padding-left: 40px;\"><span style=\"color: #ff9900;\"><strong>SECTION<\/strong><\/span><\/td>\n<td><span style=\"color: #ff9900;\"><strong>ASSET SOLD\/ TRANSFERRED<\/strong><\/span><\/td>\n<td><span style=\"color: #ff9900;\"><strong>ASSET TO BE INVESTED IN<\/strong><\/span><\/td>\n<td><span style=\"color: #ff9900;\"><strong>TIME PERIOD FOR INVESTMENT<\/strong><\/span><\/td>\n<td><span style=\"color: #ff9900;\"><strong>QUANTUM OF EXEMPTION<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td><strong>54<\/strong><\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 RESIDENTIAL HOUSE PROPERTY<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 HOLDING PERIOD OF 3 OR MORE YEARS<\/td>\n<td rowspan=\"2\">&nbsp;<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 RESIDENTIAL HOUSE PROPERTY IN INDIA<\/td>\n<td rowspan=\"2\">&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 WITHIN ONE YEAR BEFORE THE DATE OF TRANSFER OF ASSET.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 PURCHASED AFTER 2 YEARS FROM THE DATE OF TRANSFER OF ASSET.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CONSTRUCTION WITHIN 3 YEARS FROM THE DATE OF TRANSFER OF ASSET.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 THE NEW ASSET CANNOT BE SOLD OR TRANSFERRED BEFORE THE END OF 3 YEARS.<\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 WHERE THE ENTIRE CAPITAL GAIN HAS BEEN INVESTED FOR ACQUISITION OF NEW ASSET, THE FULL AMOUNT OF CAPITAL GAIN WOULD BE EXEMPTED.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 WHERE PARTIAL CAPITAL GAIN HAS BEEN INVESTED, THE CAPITAL GAIN NOT ADJUSTED IN NEW ASSET, SHALL BE CHARGED TO LONG-TERM CAPITAL GAIN TAX.<\/td>\n<\/tr>\n<tr>\n<td><strong>54F<\/strong><\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAPITAL ASSET OTHER THAN HOUSE PROPERTY<\/p>\n<p>(NOTE: YOU SHOULD NOT OWN MORE THAN ONE RESIDENTIAL HOUSE PROPERTY AT THE TIME OF TRANSFER OF THE CAPITAL ASSET)<\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TO CLAIM FULL EXEMPTION, ENTIRE SALE PROCEEDS SHOULD BE INVESTED IN NEW ASSET.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 WHERE THE PARTIAL INVESTMENT HAS BEEN MADE, THE EXEMPTION WOULD BE:<\/p>\n<p>COST OF THE NEW HOUSE X CAPITAL GAINS<\/p>\n<p>SALE RECEIPTS<\/td>\n<\/tr>\n<tr>\n<td><strong>54EC<\/strong><\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAPITAL ASSET BEING RESIDENTIAL HOUSE PROPERTY<\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BONDS OF NATIONAL HIGHWAY AUTHORITY OF INDIA (NHAI) OR RURAL ELECTRIFICATION CORPORATION (REC)<\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 THE SAID INVESTMENT BE MADE WITHIN 6 MONTHS FROM THE DATE OF TRANSFER.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 THE MAXIMUM AMOUNT OF INVESTMENT THAT CAN BE MADE IS RS. 50 LAKHS.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 THE NEW ASSET CANNOT BE SOLD OR TRANSFERRED BEFORE THE END OF 3 YEARS.<\/td>\n<td>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AMOUNT INVESTED OUT OF CAPITAL GAIN; OR<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 RS.50 LAKHS;<\/p>\n<p>WHICHEVER IS LOWER<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li>Relevant proofs should be shown to\u00a0the customer\u00a0so\u00a0no TDS is deducted by him.<br \/>\n\u2022 In case, the customer deducts TDS, advantage of these exemptions may be availed at the time of return filing by NRI and refund of such TDS may be claimed.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"DEDUCTIONS_AVAILABLE_TO_NRI\"><\/span><span style=\"color: #000080;\">DEDUCTIONS AVAILABLE TO NRI<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4031\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2021\/10\/Deductions-Allowed-to-NRIs-under-Incoem-Tax-in-India-1200x675-1.png\" alt=\"Deductions-Allowed-to-NRIs\" width=\"1200\" height=\"675\" \/><\/p>\n<ol>\n<li><strong><span style=\"color: #000080;\">Deduction under Section 80C:<\/span><\/strong><br \/>\nThe maximum amount of deduction available under the section is of Rs.1,50,000. Section 80C comprises of &#8211;<\/li>\n<\/ol>\n<ul>\n<li>Life\u00a0premium\u00a0Payments-<br \/>\nDeduction\u00a0would be available, where the policy has been purchased in NRI\u2019s name or\u00a0in the\u00a0name of his\/her spouse or any child\u2019s name. The premium must be\u00a0but\u00a010% of sum assured.<\/li>\n<li>Tuition Fee Payment-\n<ul>\n<li>NRI can claim deduction of tuition fees paid to any school, colleges or any universities situated in India for\u00a0the aim\u00a0of full-time education of their children.<\/li>\n<\/ul>\n<\/li>\n<li>Principal repayment of home loans-<br \/>\nLike Residents, NRIs\u00a0may\u00a0claim deduction for principal repayment of house property loan borrowed for\u00a0the needs\u00a0of constructing or purchasing a residential house property. Other expenses\u00a0like\u00a0tax\u00a0charges, registration fees, being incurred in respect of acquiring of such property, shall also be eligible.<\/li>\n<li>Unit Linked Insurance Plan (ULIP)-<br \/>\nInvestment in ULIP\u2019s offers twin\u00a0advantage of\u00a0insurance and investment under\u00a0one\u00a0integrated plan. The lock-in period is of 5 years. Premium paid in respect of own, spouse\u00a0and children\u00a0shall be eligible for deduction.<\/li>\n<li>Equity Linked Tax Saving Scheme (ELSS)-<\/li>\n<\/ul>\n<ol start=\"2\">\n<li><strong><span style=\"color: #000080;\">Deduction under Section 80D:<\/span><\/strong><br \/>\nNRIs can claim deduction for premium\u00a0got\u00a0insurance\u00a0of themselves and family or parents in India.<br \/>\nThe three possible situations and tax benefits for every is shown below:<\/li>\n<\/ol>\n<table width=\"921\">\n<tbody>\n<tr>\n<td><span style=\"color: #ff9900;\"><strong>POLICY TAKEN FOR<\/strong><\/span><\/td>\n<td><span style=\"color: #ff9900;\"><strong>DEDUCTION ALLOWED<\/strong><\/span><\/td>\n<td><span style=\"color: #ff9900;\"><strong>TOTAL TAX BENEFIT<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<ol>\n<li>SELF, SPOUSE &amp; CHILDREN;<\/li>\n<\/ol>\n<p>PARENTS BELOW 60 YEARS<\/td>\n<td>RS. 25,000<\/p>\n<p>RS. 25,000<\/td>\n<td>RS. 50,000<\/td>\n<\/tr>\n<tr>\n<td>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 SELF, SPOUSE &amp; CHILDREN BELOW 60;<\/p>\n<p>PARENTS ABOVE 60<\/td>\n<td>RS. 25,000<\/p>\n<p>RS. 30,000<\/td>\n<td>RS. 55,000<\/td>\n<\/tr>\n<tr>\n<td>3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 SELF, SPOUSE ABOVE 60 &amp; CHILDREN;<\/p>\n<p>PARENTS ABOVE 60<\/td>\n<td>RS. 30,000<\/p>\n<p>RS. 30,000<\/td>\n<td>RS. 60,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"color: #000080;\"><strong>3.\u00a0\u00a0\u00a0\u00a0\u00a0 Deduction under Section 80E:<\/strong><\/span><\/p>\n<ul>\n<li>Section 80E allows NRIs to assert a deduction of interest paid on an education loan. Such a loan shall be taken for pursuing higher education of the NRI, or his spouse or children or for a student, in respect of whom, the NRI is a trustee.<\/li>\n<li>There&#8217;s no limit on the number which might be claimed as a deduction under this section. The deduction shall be available, for the earlier of, period of 8 years or the interest is paid. No deduction would be available in respect of principal repayment of loan.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">4.\u00a0\u00a0\u00a0\u00a0\u00a0 Deduction under Section 80G:<\/span><\/strong><\/p>\n<ul>\n<li>Where the NRI makes eligible donations, as prescribed under section 80G of the\u00a0IT Act, 1962, the same shall be eligible for deduction to NRIs.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Tax_Rates_on_Capital_Gains_on_Transfer_of_Securities_For_Individuals_and_HUFs\"><\/span><span style=\"color: #000080;\"><strong>Tax Rates on Capital Gains on Transfer of Securities (For Individuals and HUFs)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-26303\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs-.jpg\" alt=\"Tax Rates on Capital Gains on Transfer of Securities (For Individuals and HUFs) \" width=\"917\" height=\"1963\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs-.jpg 598w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs--140x300.jpg 140w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs--478x1024.jpg 478w\" sizes=\"(max-width: 917px) 100vw, 917px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-26304\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs-1-1.jpg\" alt=\"Tax Rates on Capital Gains on Transfer of Securities (For Individuals and HUFs) .\" width=\"917\" height=\"1294\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs-1-1.jpg 581w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/06\/Tax-Rates-on-Capital-Gains-on-Transfer-of-Securities-For-Individuals-and-HUFs-1-1-213x300.jpg 213w\" sizes=\"(max-width: 917px) 100vw, 917px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NON-RESIDENT INDIAN(NRI) INCOME TAXABLE IN INDIA Income from Salary: Your salary income\u00a0is\u00a0taxed in India under two situations. Situation A: If\u00a0it&#8217;s\u00a0received in India- If\u00a0you&#8217;re\u00a0an NRI and\u00a0you have got\u00a0received any salary in India directly into an Indian Account or somebody else has received it in your behalf in India, then such salary income would become taxable in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9909],"tags":[10058],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24776"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=24776"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24776\/revisions"}],"predecessor-version":[{"id":24798,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24776\/revisions\/24798"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=24776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=24776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=24776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}