Dear Sir,
I am NRI for many years and working abroad but due to some various personal matters, such as my marriage,
my sisters marriage, my mothers health, my own health issue, some legal court case issue I will be visiting
INDIA and staying here for more than 182 days though my intention is not to settle in India.
2019~2020 abt 9 month in India
2020~2021 abt 9 month in India
I have my job and mostly its done by phone calls and e mails and I will be having my employment visa valid,
getting my salary in my overseas account.
Can you please let me know, Tax implications on my Income
Rent Income in India Inr 200,000
Nro account interest Inr 50,000
NRI accout interest Inr1,00,00,000
Salary overseas Inr 12,00,000
Will I be treated "ROR" under Income tax but remain "PROI" under FEMA.
According to my understanding, RENT/NRO income is taxable, NRI account interest is exempt and Overseas Salary will be subject to taxable under DTAA.
As my NRI Interest income is quite high and so I afraid not to face any problem during scrutiny later.
My intention is clear that I will not stay in India and not doing any job/business here and I will be keep up n down overseas but
only for coming 2-3 years, I may have to visit India more often and spend may be more than 6 months.
Please some INCOMETAX+FEMA EXPERT guide me for my inquiry.
CAclubindia
