#NRImoneyclinic #RNORstatus #Taxplanning
CA SRIRAM V RAO FCA
Partner@ Nitin J Shetty & Co Mangalore
Specialization: Direct Taxes & International Taxation
Email : sriram@nitinjshetty.com
3.40
RNOR STATUS
Sub Category Under Resident Status
Categorization Only Under Income Tax Act
To Be Eligible Certain Conditions Need To Be Met
4.20
RNOR STATUS
Enjoys Certain Privileges
Global Income Is Not Taxable In India
Exception To Rule Applies For Exemptions
Transient Status Between NRI And Resident Status
6.20
RNOR STATUS
Which Overseas Income Becomes Taxable In India ?
Overseas Income From Business & Profession
Established Or Controlled From India
6.55
RNOR STATUS
Which Overseas Income Is Not Taxable In India ?
Salary Dues
End Of Service Benefits
Property Rentals
Sale Proceeds Of Property And Assets
Maturity Proceeds Of Saving Plans
Dividends From Investments
Interest On Bank Deposits
8.20
RNOR STATUS – Why Created ?
For The Benefit Of NRIs
For Smooth Transition Into Resident Status
A Cooling Off Period To Wind Up Overseas Affairs
11.00
RNOR STATUS – Who Will Be Categorized ?
First You Should Be Categorized As Resident Individual
Check If You Meet Any Conditions To Qualify For RNOR
11.30
RNOR STATUS – Who Will Be Categorized ?
There Are Four Conditions Which Give RNOR Status
To Get RNOR Status, Enough To Satisfy Any One Condition
No Need To Satisfy All Four Conditions
12.15
RNOR STATUS
What Are The Conditions To Satisfy ?
1. Should Have Been A NRI in 9 Out Of Last 10 Years
13.20
RNOR STATUS
What Are The Conditions To Satisfy ?
1. Should Have Been A NRI in 9 Out Of Last 10 Years
2. Last 7 Years Stay Inside India Should Not Be More Than 729 Days
14.30
RNOR STATUS
What Are The Conditions To Satisfy ?
Condition 3 :
Applicable Only For PIO Or Indian Citizen
Not Applicable To Foreign Citizen
Should Have Indian Income Of More Than 15 Lakhs
Should Have Come On A Visit Visa
Should Have Stayed In India For More Than 120 Days
15.25
RNOR STATUS
What Are The Conditions To Satisfy ?
Condition 4 :
Applicable Only To Citizen Of India
Not Applicable For A PIO
Should Have Indian Income Of More Than 15 Lakhs
Not A Bonafide Resident Of Any Country ( Stateless Person )
17.50
RNOR STATUS
FOR RETURNING NRIs
Maximum Two Years Possible
21.45
CAUTION AND ADVICE FOR NRIs
Maintain Proper Records Of Number Days You Spend In India
Passports Get Scanned At Airports
You Need To Enter These Inputs While Filing Tax Returns
To know more about our business and our business model please watch the below video
Our Website: www.nrimoneyclinic.com
Whatsapp: 00971 55 548 4472