Long-term investing has several advantages, and even small amounts invested regularly can potentially grow into a decent corpus over time. Let us examine the long-term investment options before NRIs.
Dubai: For Non-Resident Indians (NRIs) living in the UAE, how does the changes announced in the India Budget 2021 affect your personal finances and investments in India? Let’s find out.
One key takeaway made by tax consultants and experts who studied closely the latest India Budget – announced on Monday – is that it brought about more clarity involving better procedures on how NRI income will be taxed in the coming year.
Lookback: How NRI income is taxed in India If your status is ‘NRI’, your income which is earned or accrued in India is taxable in India. Income which is earned outside India is not taxable in India. Interest earned on an NRE account and FCNR (Foreign Currency Non Resident Account) account is tax-free. Interest on NRO account is taxable for an NRI.