Nri taxation

PRAKASH CHANDNANI (PRESIDENT) (84 Points)

10 January 2017  
Hi, I am a NRI for last 2 years but this year, I will be visiting (staying) more than 182 days here in India for some personal reasons and will move back to my work once its done. I hold 'permanent residence' (employment visa) of u.a.e. This situation makes me 'Resident' as per income tax act but remain 'NRI' as per Fema, as I am still on employment visa in overseas. Now I would like to know, how my tax will be calculated, if :- A) My salary in overseas is abt Rs12,00,000/yr B) My interest on nre fixed dep Rs 3,00,000/yr C) Rent in India on shop Rs 1,50,000/yr *I guess, that my NRE FD interest rate will be exempt from tax, even if I am treated as resident as per Income tax act, as under Income tax act section 10(4)ii, it says, if I am NRI as per FEMA, I can hold NRI account and interest on it, will be tax free. Am I right, what I understand. Please gv me a calculation on above number for my tax figure to be paid. Will there be any benefit of DTAA treaty between India and UAE for me, which is 12.5% concessional tax rate. Awaiting reply as soon as possible.