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If an NRI person sends money to India, then he is required to pay tax on the gift or money is more than 50,000 INR, and it will be reflected on your form 26AS. The TCS credit will be available to the taxpayer to file an ITR for that year.
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If you Send Money From Abroad to a Normal Indian Savings Account, there is no tax on the principal amount, but if an NRI is sending money from abroad to...
RNOR (Resident but not Ordinarily Resident) is beneficial for the NRIs if they have the income generated from the rent from abroad from rent, getting interests or dividends from the...
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Here is the TDS rate on the interest earned in NRO accounts, which is subject to tax in India. Recent data shows that these TDS rates are 30% with surcharges...
NRIs can avoid double taxation through the lifesaving DTAA. It is basically an agreement that is signed by two countries. It is carried out by India with different countries, in...
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For the LRS for education or a financial institution, the TCS rate is nil. For LRS for medical treatment, education, the TCS rate will be nil for below or equal to 10 lakh INR and 5% for more than 10 lakh INR. For many overseas tours, the TCS rate will be 5% for less than 10 lakh INR and 20% for more than 10 lakh INR.