Comments on: NRI Income TAX rates & other Indian Taxation Laws for NRIs living abroad. http://nrifinanceguide.com/2008/08/30/nri-income-tax-rates-other-indian-taxation-laws-for-nris-living-abroad/ We make Investing in India easy for Non Resident Indians (NRIs) Tue, 09 Mar 2010 17:14:02 +0000 http://wordpress.com/ hourly 1 By: simran anand http://nrifinanceguide.com/2008/08/30/nri-income-tax-rates-other-indian-taxation-laws-for-nris-living-abroad/#comment-568 simran anand Wed, 16 Sep 2009 14:51:52 +0000 http://nriinvestmentservices.wordpress.com/?p=426#comment-568 Regarding investing where should a NRI invest? Can it be anywhere in world or it should be in India only Regarding investing where should a NRI invest? Can it be anywhere in world or it should be in India only

]]> By: Dhiren Karvat http://nrifinanceguide.com/2008/08/30/nri-income-tax-rates-other-indian-taxation-laws-for-nris-living-abroad/#comment-98 Dhiren Karvat Sat, 11 Oct 2008 06:20:58 +0000 http://nriinvestmentservices.wordpress.com/?p=426#comment-98 My brotheris an NRI of Indian origin, now settled in Canada for over 25 years.We were living in a Joint family of six brothers & two sisters, in a rented flat at Mumbai. In F.Y 2005-06, the owners purchased our Tenancy Rights for a mutually agreed price.Each of the brothers got about 12 % of total receipts, amounting to less than Rs.10 Lacs. This was treated as Long tErm Capital hgain , with Cost of Aquisition being Nil. My NRI brother invested about 85 % of the CG in NABARD CG Bonds, leaving a balance amount of Rs.1.37 Lacs. He had obtained a PAN no.and auumed that being a Senior Citizen , he would be entitled to get Exemption of Rs.1.50 Lacs available to Resident Indian Senior Citizen. The IT authorirties say that the exemption of Rs.1.50 lacs is available to Indian residents only. Your above article states that if the revenue is only from Capital gain, then no taxation liability arises to NRI. Would you kindly clarify the above point and advise ? Thanks, Dhiren Karvat My brotheris an NRI of Indian origin, now settled in Canada for over 25 years.We were living in a Joint family of six brothers & two sisters, in a rented flat at Mumbai.
In F.Y 2005-06, the owners purchased our Tenancy Rights for a mutually agreed price.Each of the brothers got about 12 % of total receipts, amounting to less than Rs.10 Lacs. This was treated as Long tErm Capital hgain , with Cost of Aquisition being Nil.
My NRI brother invested about 85 % of the CG in NABARD CG Bonds, leaving a balance amount of Rs.1.37 Lacs. He had obtained a PAN no.and auumed that being a Senior Citizen , he would be entitled to get Exemption of Rs.1.50 Lacs available to Resident Indian Senior Citizen. The IT authorirties say that the exemption of Rs.1.50 lacs is available to Indian residents only.
Your above article states that if the revenue is only from Capital gain, then no taxation liability arises to NRI. Would you kindly clarify the above point and advise ?

Thanks,
Dhiren Karvat

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