• Taxation for Income earned abroad

If an NRI earns an income which is exempt from tax abroad then will it be taxable in India? For example if an NRI trades in Foreign Exchange or Stocks in Singapore or Dubai where there is no capital gains tax then will the income earned on the same be taxed by Income Tax Authorities in India? Does the NRI have to explain such income while transferring it to India?
Asked 2 years ago in Taxation from New Delhi, Delhi
If you have lived in India for more than 182 days in a financial year, you will be considered a resident of India under the Income Tax Act. So your income, including the one earned abroad, will be taxable in India. However if u have resided less than 182 days in india, then the income you have earned will be exempt from TAX. Any income from savings invested in India will be taxed here.
Reena Singh
Advocate, Gurgaon
5 Answers
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Again, it depends on the resident status of the individual, how  many days he resided in INDIA
Reena Singh
Advocate, Gurgaon
5 Answers
0 Consultations
5.0 on 5.0
YES, his income will be exempt  from tax in INDIA
Reena Singh
Advocate, Gurgaon
5 Answers
0 Consultations
5.0 on 5.0

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