TDS COMPLIANCE FOR NRIS
ITR for UAE NRIs: Submit returns by July 31 to avoid penalties
Indian expatriates in the UAE must file their Income Tax Returns (ITR) for the financial year 2024-25 by July 31, 2025. Recent changes include increased capital gains tax rates, affecting investors in listed shares and securities. Filing is crucial for claiming refunds, avoiding penalties, and carrying forward losses.
NRI Talk | A blended approach—India + global—is becoming the norm in NRI portfolios: Alok Saigal
While India is seen as a core long-term investment destination by NRIs, countries like UAE & Singapore continue to attract NRI capital for diversification, real estate and global exposure. A blended approach—India + global—is becoming the norm in NRI portfolios.
NRI Talk: Tax-free gains? How NRIs in UAE, Singapore & Mauritius legally avoid MF taxes
NRIs are increasingly aligning investments with India’s growth, drawn by economic resilience, reforms, and emotional ties. Tax-friendly hubs like Dubai and Singapore amplify returns, while new tools like GIFT City and fractional real estate expand options.
New Tax Bill 2025: No Nil TDS certificate for all taxpayers including NRIs; What does it mean for Indians and NRIs?
New Income Tax Bill, 2025 has removed the concept of nil TDS certificate. This means now only a lower TDS certificate is possible, so non-residents including non-resident Indians and Indian taxpayers need to file an income tax return (ITR) claim this TDS so deducted. CA Ankit Jain says deduction of TDS can become a useful tool for the government in identifying cases where income is not being properly disclosed.
Capital gains, TDS & tax recovery: How NRIs will be affected by India's new tax laws
The Income Tax Bill, 2025, introduces changes affecting NRIs and foreign companies, including tax rates on dividends and interest, recovery measures, and stricter departure rules for NRIs. It also provides tax exemptions for foreign companies under specific conditions. Consulting a tax advisor is recommended to ensure full compliance with the updated regulations.
NRIs selling property in India face a maze of income tax, TDS rules: Simplification urged in Budget 2025
Non-resident property transactions in India face compliance challenges, including obtaining TAN, depositing TDS, and filing e-TDS returns. It is hoped that Budget 2025 simplifies these processes and enables overseas bank payments to ease the compliance burden for buyers and sellers, fostering smoother cross-border property deals.
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NRIs' expectations from Budget 2025: 9 changes that NRIs want in income tax rules
The simplification of ITR forms has been a welcome change for NRIs. However, e-verification of ITR form to successfully complete the filing process continues to pose certain challenges. Read our story to know more about the expectations among NRIs of changes in government policies.
How Budget 2025 can help bring more NRI money back home
As Budget 2025 nears, NRIs look forward to reforms aiming at simplifying TDS compliance, enhancing DTAA benefits, easing the repatriation process, expanding investment opportunities, and increasing tax incentives. These changes could make India a more appealing investment destination for them.
For Budget 2025, AMFI proposes uniform rate for surcharge on TDS for NRIs
AMFI has proposed a uniform 10% surcharge rate on TDS for NRIs on dividend payments and capital gains from mutual funds. This aims to address the challenges faced by NRIs, simplify compliance, and provide uniformity across mutual funds, replacing the current variable surcharge rates based on investor income slabs.
Will Budget 2025 make the tax math easier when buying property from NRIs?
Homebuyers face complex tax compliance when purchasing property from NRI sellers, who require a TAN, e-TDS returns, and face restrictions on tax payments and refunds. Simplifying the system, allowing overseas payments, and expanding e-verification could ease the process, potentially addressed in Budget 2025.
Money Matters: An NRI's guide to renting out property in India
NRIs renting out properties in India must manage taxes effectively. Rental income exceeding exemption limits requires filing an ITR. Compliance includes using the correct bank accounts and ensuring TDS deductions. Deductions are available under different tax regimes, and advance tax payments can prevent penalties.
Are you breaking the law? Crucial banking changes every new NRI must know
Newly transitioned to Non-Resident Indian (NRI) status? This guide details the essential banking and investment updates required to align with India's financial regulations, ensuring a smooth transition and avoiding penalties. From converting savings accounts to updating investment portfolios, we cover the key steps for seamless global financial management.
NRI money guide: 5 mistakes to avoid when using NRE/NRO accounts and how to manage your funds better
Non-Resident Indians (NRIs) often face challenges managing NRO and NRE accounts. Mishaps include using incorrect accounts for funds, exceeding repatriation limits, and neglecting tax implications. NRIs can ensure compliance and optimize finances by understanding account distinctions, planning repatriations, and staying updated on regulations.
Income Tax filing: Do NRIs need to file ITR if they have no income in India?
Non-resident Indians (NRIs) are required to file Income Tax Returns (ITRs) if their income in India exceeds ₹2.5-3 lakhs, facing penalties, including potential imprisonment, for non-compliance. Exceptions apply if NRIs have no income in India, yet filing can facilitate tax refunds and support visa applications. FEMA mandates closing or converting Indian accounts upon acquiring NRI status, underscoring the importance of consulting tax professionals for compliance.
NRIs want Budget 2024 to ease 6 tax troubles: TDS on property sale, disparity in LTCG, dividend taxation and others
Under Indian tax laws, NRIs are taxable on their Indian-sourced income, such as capital gains, dividends, and interest. They are generally taxed similarly to residents but may face less beneficial rules in specific scenarios. The upcoming Budget 2024 may offer relief to NRIs in these areas.
Income tax made easy: NRIs' complete guide to income tax filing
Srishti, an NRI, discovered INR 20,000 TDS on her NRO account. Does she need to pay tax in India? Is filing income tax return mandatory? Explore tax-saving instruments, tax-exempt proceeds, and financial compliance.
Budget 2024: NRIs expect simplified TDS compliances
Interim Budget 2024: Lately, there has been a heightened emphasis on deductors adhering to TDS (Tax Deducted at Source) regulations, and failure to comply carries significant penalties. However, managing TDS compliances operationally can be intricate and time-consuming, posing interpretational challenges and placing an extra burden on the deductor. Read on to know how Budget 2024 can help ease the TDS pain.
Budget 2024 expectations: 15 expectations of individual taxpayers this Budget
Different sectors in India have put forth their needs and demands. Here are 15 important things in the wish list of the common man regarding income tax.
What Interim budget can do to bring money from NRIs back to India
The interim budget for 2024 is expected to revolutionize India's economic landscape and address the challenges faced by NRIs. It will prioritize opportunities to boost economic growth and reduce the tax burden for NRIs. The budget is anticipated to simplify the Tax Deduction at Source (TDS) compliance process for NRIs, making it similar to that of resident sellers.
Ease TDS rules for buying house property from NRIs in Budget 2024
The government needs to facilitate ease of transacting and reduce compliance difficulties in buying property from NRIs. This is because a buyer needs to obtain TAN from income tax department to deduct and deposit taxes when buying property from NRI. This makes the selling of property by NRI very difficult.
Factors that NRIs should take into account while selling property in India
While purchasing property in India is an attractive proposition and a common investment option among the Indian diaspora, selling these assets isn't always straightforward. It calls for heightened understanding and thorough planning on the part of the NRIs, particularly concerning tax implications. Therefore, NRI sellers need to understand these intricacies to ensure full compliance and maximize profit.
Budget 2023: Expectations on NRI taxation
To begin with, the government may make it easier for NRIs to understand their taxation process. This could include providing clarifications on when a non-resident is required to file a tax return in India, introducing digital means for submitting all returns and forms, and making further improvements in the documentation required for an NRI to file their returns.
Tax tweaks Budget 2023 should propose to pull more funds from NRIs
NRIs remit funds to India for various reasons which may include the upkeep of their dependents staying in India, the continuation of their retirement benefit accounts, investments in Indian securities etc. These remittances are likely to grow in the future with India emerging as a preferred destination for investments. However, the entailing compliance requirements for NRIs are not straightforward and simple.
NRIs without PAN can manually file Form 10F till March 31, 2023, to avoid TDS on payments received
The Central Board of Direct Taxes (CBDT) has issued a notification on December 12, 2022 offering one-time relied to the non-resident taxpayers who do not have PAN and required details in Tax Residency Certificate. Such taxpayers are required to file Form 10F to claim benefit under the DTAA. However, this form must be filed before the last date i.e., March 31, 2023.
TDS is compulsorily deductible from these types of NRI income
An NRI receives different types of income from India. However, if an NRI receives a certain types of income from India, then TDS will be applicable to such income. The TDS will be applicable even if Re 1 earned from such income, irrespective of whether an NRI's total taxable income exceeds basic exemption limit Rs 2.5 lakh or not in a financial year.
It's the perfect time to invest in mutual funds. Here's everything NRIs need to know
For NRI investors, the Indian stock market is an opportunity waiting to be tapped. They can invest in stocks directly if they have the expertise and the time. However, investing through mutual funds is always a more cost effective solution.
Breaking down the budget, from an NRI's point of view
The raising of the tax audit limit for NRIs from Rs 5 crore to Rs 10 crore is a welcome step. Even so, the TDS rules continue to be a major pain point for NRIs. On bank deposits, NRIs have to cough up 30% TDS. Hopefully the government will ease the TDS rules for NRIs thereby encouraging investments in India.
Income tax department to crackdown on TDS defaults; e-retail portals, panchayats in focus
The CBDT has directed its assessing officers to undertake at least 30 surveys or on-spot checks, as part of its Central Action Plan (CAP) 2018-19
Budget 2016: NRIs without PAN not to be subjected to higher rate of TDS
"It is proposed to amend the relevant provision to provide that on furnishing of alternative documents, the higher rate will not apply," the Budget says.
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