20 October 2013
If you as an NRI have earned income in India and your total taxable income for the financial year exceeds exemption the limit of Rs. 2 lakh.
Exceptions: 1. When the income earned by an NRI individual in India includes only the interest income and capital gain and tax has been already deducted from such income at source then NRIs are no longer liable to pay tax on such income.
2. In a case when an NRI realizes long term capital capital gain from the sale proceeds of equity mutual funds or equity shares in India then no tax liability exists for the NRI which in turn sets the NRI free from filing the income return.
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