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NRI Taxation

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NRI Taxation

Non-Resident Indian (NRI) is an Indian citizen, migrated to a foreign country. In India, the tax is liable to be paid based on residential status and not on the nationality or domicile of the taxpayer.

Due to globalisation, more and more people are relocating to different countries of the world. With the rapid and active growth of the Indian economy over several years, there has been a steady influx of expatriates into India. For dealing with the taxation laws efficiently, one must hire a sound NRI tax consultant in Delhi if you belong to Delhi who can guide you to plan your transactions accordingly.
Some of the typical challenges faced by the Expatriates are getting accustomed to our diverse culture, different languages, finding accommodation, compliance with tax and regulatory regulations. Manish Anil Gupta & Co. is one one of the few best NRI consultants in Delhi having vast expertise in NRI return filing in India.

Income Tax deductions available for NRIs under section 80C

NRIs can also avail of the tax deductions under Section 80C up to a maximum of Rs. 1.5 lakhs, just like in the case of residents. Some of the common investment options to claim deduction under section 80C are:

* Life insurance premium payment

An NRI can claim a tax deduction for the premium paid on the life insurance policy taken for himself or his spouse or his children (minor or major), provided the premium paid does not exceed 10% of the capital sum assured.

Repayment of principal on housing loan 

An NRI can avail deduction under section 80C for the instalment portion that goes towards the repayment of the principal amount on loan taken to purchase or construct a house property. It must be noted that the interest portion of the instalment cannot be claimed under Section 80C.

* Children’s tuition fee payment

Tuition fees paid by an NRI to any university, college, school or other educational institutions within India for full-time education of his children is eligible for 80C deduction. This benefit is applicable for a maximum of two children. The NRIs must note that this benefit is not available for payment made to any educational institution situated outside India.

* Investment in ELSS

An NRI can claim a deduction under section 80C of the Act for investments made in the Equity Linked Savings Scheme (ELSS) of Mutual Funds.

Our Services 

  • Determination of residential status under domestic law and tax treaty.

  • Analysing the secondment agreement vis a vis service agreement.

  • Tax advisory relating to salary income, capital gain transaction.

  • Preparation and filing of India tax return and mechanics of elimination of double taxation.

    NRI ITR filing in Indi

  • Counselling on compliance and procedures to be followed by NRI and expatriates seconded on an international assignment to India.

  • Assistance in income tax scrutiny and assessments/audits.

  • Advisory relating to the repatriation of money from India and issue of necessary forms to AD banker.

  • Certification services under FEMA and Income Tax.

  • Investment advisory services in India.

    Taxability of ESOP transactions.

Depth of our knowledge and experience in the tax matters, coupled with our personalised responses, has earned us satisfied, long-term clients spread across the globe. Our passion for further nurturing and growing more such relationships ensure that our team members respond to your mails on an 'instant mode.'

Where can MAG Help?

  • Determination of the residential status in India.

  • Interpretation of DTAA to reduce the tax liability in India.

  • Handling of the issues relating to inheritance, legacy and will.

  • Compliances concerning the Income-tax Act, 1961, Wealth-tax Act, etc.

  • Application for Permanent Account Number (PAN).

  • Filing of India tax return.

  • Advising suitable tax-saving investments.

If you are looking for an NRI tax consultant in Delhi or if you want help in NRI Return Filing in Delhi India, reach us today at and get the best of us.

Frequently Asked Questions

A ‘Non-resident Indian’ (NRI) in a particular financial year is an individual who is an Indian citizen and who satisfies neither of the following conditions:

a: he stays in India for 182 days or more in the relevant financial year, or

b: he stays in India for 60 days or more in the relevant financial year and for 365 days or more in four previous years immediately preceding that financial year.
* An individual’s taxability in India will depend on his residential status for the relevant financial year as per the Income Tax provisions.

* If an individual’s status is ‘resident’, his global income will be taxable in India. If his status is ‘NRI,’ only his Indian income will be taxable in India.

* Examples of Indian income include:

* salary received in India

* compensation for service rendered in India

* capital gains on transfer of asset situated in India

* income from house property situated in India

* intereston fixed deposits or savings bank account in India

* Interest earned on an NRE account and FCNR account is tax-free. But, interest on an NRO account is taxable in the hands of an NRI in India.
Yes, an NRI whose total Indian income during a particular financial year exceeds Rs. 2,50,000 is required to furnish an Income Tax return in India.

Also, in case any tax has been deducted at source on any income of the NRI, and if it is more than his actual tax liability, then he can claim a refund along with interest only after filing his return of income.
Yes, if an NRI’s tax liability is expected to exceed Rs. 10,000 in a financial year, he must pay advance tax. Interest under Section 234B and Section 234C will be levied if advance tax is not paid.
Some investments under Section 80C that are not allowed to NRIs are:

* Investment in Public Provident Fund

* Investments in National Savings Certificates (NSCs)

* Deposits in post office 5-year deposit scheme

* Deposits in Senior Citizen Savings Scheme (SCSS)
The tax liability for NRIs in India is determined based on their residential status and the source of income earned in India.
Expatriates in India face challenges such as cultural diversity, language differences, finding accommodation, and compliance with tax and regulatory regulations.
ESOP transactions for NRIs are taxed as per Indian tax laws, based on the source of income and residential status.
Yes, an NRI can claim a deduction for investment in Equity Linked Savings Scheme (ELSS) under Section 80C of the Income Tax Act.
NRIs can claim tax deductions under Section 80C for investments in life insurance, housing loan repayment, children's tuition fees, and ELSS etc.
Residential status is determined by the number of days of physical presence in India under domestic law and tax treaty.
NRI is an Indian citizen who migrated abroad, while PIO is a person of Indian origin or ancestry, regardless of citizenship.
Yes, NRIs are allowed to purchase property in India, subject to certain conditions and regulations under the Foreign Exchange Management Act (FEMA).
Yes, NRIs can open and maintain bank accounts in India, such as NRE, NRO, and FCNR accounts, subject to certain conditions and regulations.
NRIs can repatriate money from India by following the regulations of the Reserve Bank of India (RBI) and providing necessary documentation for the transaction. Form 15CA and 15CB is required by banks to repatriate money from India.

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