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Taxation of NRI

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.... as when they fall under the jurisdiction of the Income Tax Act, 1961 * Income of NRI is only taxable in India, If the income earned in India or income which accrue or arise or is deemed to accrue or arise in India (i.e. capital gains on shares & mutual funds, interest on FD, any other interest income earned in India, Rental Income or Salary earned in India etc.) which exceed the basic exemption....

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....on of this Act. * LTCG - Chapter VI-A not available. * First Proviso to Section 48 - Available. * Second Proviso to Section 47 (Indexation) - Not available. * Other Income = Normal Provisions. * Exemption on LTCG - Section 115F * LTCG of FOREX assets shall be exempt if net consideration is utilized for acquiring other FOREX assets or Saving Certificate u/s 10(4B) with 6 Months from the....

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.... the provision of Chapter XII-A. It means Investment Income continue to be taxed @20%. And Chapter-XII-A will apply till transfer or converted into money of such forex assets. Taxability of Income for Individual & HUF Income Resident OR Resident but NOR Non-Resident Indian Income Taxable Taxable Taxable Foreign Income - Income from Business/Profession controlled/setup from India Taxab....