NRI Taxation and NRI Banking

NRI Taxation and NRI Banking NRI to Pay Tax in India You are considered an Indian resident for a financial year: • when you are in India for at least 6 months (182 days to be exact) during the financial year OR • You are in India for 2 months (60 days) for the year in the previous year AND have lived for one whole year (365 days) in the last four years. If you are an Indian Citizen working abroad or a member of a crew on an Indian ship only the first condition is available to you – which means you are a resident when you spend at least 182 days in India. The same is applicable to a PIO who is on a visit to India. The second condition is not applicable to these individuals. A PIO is a person who, or any of his parents, or any of his grandparents were born in undivided India. You are an NRI if you do not meet any of these conditions. Taxable Income of an NRI Income from salary

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