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about income and loan
by sandeep on Feb 21, 2011 02:29 PM   Permalink

What is the minimum time required to be outside India to qualify as an NRI and be exempt from paying income tax in India? Is it 182 or 183 days? Are the days of leaving India and arriving back in India (the dates stamped on your passport) counted in the tally of days outside the country?

2. Is it necessary to file Income Tax returns if an individual has attained NRI status for a particular year? If the answer is no, what if proof of IT returns is required while buying a house, car, etc (upon moving back to India)? If the answer is yes, on what basis would we be taxed?



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The above message is part of the Discussion Board:
For NRI, Rs 150K of income is tax free