#NRImoneyclinic #RNORstatus #Taxplanning
CA SRIRAM V RAO FCA
Partner@ Nitin J Shetty & Co Mangalore
Specialization: Direct Taxes & International Taxation
Email : sriram@nitinjshetty.com
ADVANTAGES OF RNOR STATUS
Overseas Income Is Exempted From Taxes
( Exception To Rule Applies )
ADVANTAGES OF RNOR STATUS
All Tax Benefits Offered To ROR Applies To RNOR Too
This Benefit Is Not Available To Individuals In NRI Status
ADVANTAGES OF RNOR STATUS
Special Tax Slabs To Senior Citizens Also Available To RNOR
This Benefit Is Not Available To Individuals In NRI Status
ADVANTAGES OF RNOR STATUS
Capital Gains Can Be Set Off Against Basic Tax Slab
This Benefit Is Not Available To Individuals In NRI Status
ADVANTAGES OF RNOR STATUS
For Senior Citizens Advance Tax Provisions Does Not Apply
( This Does Not Apply For Persons With Business Income )
This Benefit Is Not Available To Individuals In NRI Status
ADVANTAGES OF RNOR STATUS
Income Tax Exemptions For Disabled Persons Can Be Claimed
This Benefit Is Not Available To Individuals In NRI Status
ADVANTAGES OF RNOR STATUS
You Can Invest In PPF , Post Office & Other Govt Schemes
This Benefit Is Not Available To Individuals In NRI Status
DISADVANTAGES OF RNOR STATUS
During Normal Times RNOR Is Not A Disadvantage
If You Become RNOR Accidentally Due To Overstay It Will Affect You
Consciously Avoid Becoming RNOR During Your Stay Abroad
NRI MISCONCEPTION ON NRE FD INTEREST DURING RNOR STATUS
NRIs Returning To India Permanently Should Inform Banks
NRE FD Has To Be Redesignated As Resident FD
Tenure Of FD & Interest Rate Will Remain Same With Redesignation
Interest Received Upon Redesignation Is Taxable Even For RNOR
If Person Loses NRI status Under FEMA , NRE FD Interest Is Taxable
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