More and more Non-Resident Indians (NRIs) are finding themselves in an unexpected predicament: receiving income tax notices from Indian authorities, despite rarely setting foot in India. This surge in notices is a direct result of the Indian Income Tax Department’s sophisticated new arsenal, including AI, big data analytics, and global financial reporting tools, enabling unprecedented … Read more
The recent Budget 2024-25 has significantly altered the tax landscape for Non-Resident Indians (NRIs selling property in India. Previously, NRIs enjoyed an indexation benefit for long-term capital gains (LTCG), which adjusted the purchase price for inflation, reducing taxable gains. This benefit has now been removed for property sales occurring on or after July 23, 2024. … Read more
India’s tax landscape is shaping up to be quite competitive in 2025, especially when you compare its new 30% top individual income tax rate to what other major economies are charging. For folks navigating global finances, whether you’re an NRI, a startup with international ambitions, or a high-net-worth individual, knowing where India stands can make … Read more
The 2025 tax season is shaping up to be a challenging one for Non-Resident Indians (NRIs), with the Income Tax Department’s new forms for FY 2024-25 (Assessment Year 2025-26) already released but crucial utilities, like ITR-2, facing delays. Tax experts are sounding the alarm, warning NRIs of potential pitfalls and hefty tax bills if they … Read more
Tax for Non-Resident Indians (NRIs) in India can feel complicated, but there’s a powerful way for them to pay zero tax on certain capital gains if they play their cards right. While most NRI income like rent, dividends, and interest is taxable in India, strategic reinvestments can unlock significant tax exemptions. The NRI Tax Advantage: … Read more
NRI Wins Major Capital Gains Tax Case in Delhi High Court! An NRI in the US faced a significant tax ordeal after selling a property in Pune for Rs 2 crore. Despite the buyer correctly deducting 20% TDS (Rs 18.68 lakh), a critical error in the TDS form plunged the NRI into a battle with … Read more
An NRI in the US found himself in a tax predicament when selling his Pune property, facing a ₹46 lakh tax demand due to a buyer’s error in using the wrong TDS form. Despite the NRI following all proper procedures, the buyer deposited the 20% TDS using Form 26QB (for resident sellers) instead of the … Read more
US Remittance Tax: A Hefty New Bill for NRIs Sending Money Home to India New Delhi, India – Sending money home to India could soon become significantly more expensive for Non-Resident Indians (NRIs) in the United States. A proposed 3.5% remittance tax, already passed by the US House of Representatives on May 22, 2025, looms … Read more
New US Tax Could Impact Money Transfers to India Good news for NRIs sending money home: a proposed 3.5% excise tax on remittances from the US is currently under deliberation. If enacted, this tax could make sending money to India more expensive. This tax, part of the “One Big Beautiful Bill” that has passed the … Read more