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Taxes during and after RNOR status

My wife has inherited land in Kerala from her father, which he had inherited. The land is a subject matter of compulsory acquisition from the National Highways Authority of India. In such a case......

For RNOR, foreign income is tax-free in India

A N Shanbhag, investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.\nMy son is a non-resident Indian and I am in government service. He has both a non-resident......

RNOR not required pay tax in India on forex income

A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.A Rediff India Abroad feature: I have been a Non-Resident Indian for the......

Relief for some from filing returns this July

Every year in June-July, there is a last-minute scramble among assesses to file income tax returns. With employers giving out Form 16, the scramble gets intense. Though many forget to file returns......

Of NRIs, spouses and taxation

A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answers your questions on NRI investment.A new Rediff India Abroad feature: I am a Non-Resident Indian residing in......

  People speak for rnor

  • QNA
Q. I have few term deposits in banks in India, as resident, from my money earned in India. I am senior citizen and have recently got US Green card and now stay about seven months a year in USA and five months in India.. I do not earn in USA. In any case, considering for next few years, I will be staying in India more than 729 days in seven years. Please let me know----- (1)- Will I continue to get the same interest on my existing term deposits in India as resident (about 9 ~ 9.5%) or it should be NRE term deposit rate ? (2)- Do I need to convert my present saving accounts ar NRO or RNOR
:  A. You may continue your existing term deposit until its expiry date. Upon its expiry, you may convert to NRO term deposit A/c which is taxable and...... more

Sushil Kumar Srivastava
Q. Is NRI income taxable
Sushil Kumar Srivastava:  A. Yes. indian income of NRIs are taxable. An NRI shall be RNOR for two years after he returns to India during which period he will not be taxable on foreign income. Pradeep Narain CA more

kamal sachdeva
Q. i am working abroad since march 2005. According this article I am NRI for 2 years. But during the current FY i.e. April 1 - March 31 2007 what will be my status as i will be back to India on 1 Sept 2007. As per your article I will be resident. But your last sentence says that I can be RNOR as I am NRI for two consecutive years.
Kamal Sachdeva:  A. the definition of RNOR in Indian Finance Act was amended in 2003,revised conditions applicable from Financial year April, 2003 to March 2004 are as...... more

  Web results for Rnor
Five Things NRIs need to know before Investing

Bangalore: Real estate is the only sector that always snares the attention of non residents. With the deterioration of rupee value, India became as... ...
File your returns to claim refund of excess taxes paid

I am returning to India after 30 years. When I return, should I pay income tax from that financial year itself? The taxability of income would... ...
Society needs creative people to keep moving

rnor SC Jamir, while inaugurating a two-day Utkal Literature Festival on Wednesday said the society needs creative people to keep moving ahead.... ...
Taxation of FD interest income depends on residential status

I am a British passport holder and have a status of overseas citizen of India (or person of Indian origin). I have two non-resident external (NRE)... ...

rnor Raghuram Rajan today said. "The RBI is exploring ways to allow banks more flexibility in (loan) restructuring. This is a risk we are prepared... ...

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