For an NRI, are there any tax exemptions in
India...!
Reply by Ms. Sonu Iyer, Tax Partner and
National Leader, Human Capital Services, EY
There are certain incomes that are fully exempt. Long-term capital gain
arising from transfer of equity shares or units of equity-oriented mutual funds
(MFs), held for more than 36 months (3 years), are not taxed.
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| Ms. Sonu Iyer, Tax Partnet and National Leader, Human Capital Services, EY |
These include dividend income from domestic companies & specified
mutual funds. Interest earned on FCNR or / non-resident external bank accounts
are also exempt.
Interest income earned from notified securities, bonds and savings
certificates are not taxed.
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