NRI
Tax obligations, property ownership rules, OCI card benefits, and financial planning guidance for Non-Resident Indians. Covers FEMA regulations, NRE/NRO accounts, and India-specific tax treaty provisions.
Top questions about NRI
Answers from VisaVerge guidesWhat should NRIs do to comply with tax residency rules for FY 2025-26?
NRIs must document their entry/exit dates to determine 182-day residency under Section 6 and report and pay tax on Indian-sourced income accordingly.
Read: NRI Tax Residency 2025-26: 120-Day Rule and Deemed ResidencyHow does this affect U.S. immigration and tax filings for NRIs?
U.S. tax residents with India activity like property or frequent cash movements may need to report these assets under IRS rules, including FBAR and Form 8938 filings.
Read: Union Budget 2026-27 Sets 30% Tax Rate on Unexplained Income in Cash Credits and InvestmentsDoes India's Budget 2026 affect how NRIs report their income to the IRS?
No, U.S. residents must still report worldwide income and foreign assets regardless of India-side disclosures.
Read: NRIs in U.S. Must Report Global Income Despite India's Budget 2026 SimplificationHow does India's April to March financial year affect NRIs splitting their income between countries in 2025?
India’s April–March financial year requires careful splitting of income when changing countries midyear, a step many taxpayers often miss. This can lead to compliance issues if not managed properly.
Read: Understanding the India–U.S.–Canada Tax Triangle for NRIs (2025)What are the implications of not updating tax residency for Indian citizens moving to Canada or the U.S. in 2025?
People who keep old statuses can be treated as full residents in two places at the same time, leading to dual taxation until they correct their records.
Read: Indian Tax Residency 2025: 182/60-Day Rules and Update Implications
CBDT Unveils Draft Income Tax Rule, 2026 with Significant Updates to Income-Tax Act, 2025
The CBDT’s 2026 Draft Income Tax Rule streamlines India's tax code by reducing rules and forms, starting April 1, 2026. This transition introduces 'smart' pre-filled forms and tighter controls on…
Clawback Question Raised Over NRI LTCG Tax Relief Under Section 10(38)
NRIs face confusion over 'clawback' rules for Indian share sales in 2026. Analysis shows exemptions like Sections 10(38)…
Budget 2026 Lets Buyers Use PAN Based Challans Removing TAN Requirement
India's Budget 2026 removes the TAN requirement for resident buyers purchasing NRI property, allowing the use of PAN-based…
Supreme Court Upholds ₹2.9 Crore SAIL GST Refund for Unutilised ITC
The Supreme Court ruled that GST pre-deposits for appeals are 'appellate mechanism' refunds, exempt from Section 54 time…
NRI LTCG Relief Under Section 115F Faces Clawback If Reinvested Asset Sold Same Year
The March 31, 2026 deadline is critical for NRIs who reinvested share sale proceeds to claim tax exemptions.…
Internal Revenue Service Operates Under Contingency Plan Using IRA Funds
A partial government shutdown has begun, with the IRS using contingency funds to keep refunds moving for a…
IRS Disaster Tax Relief Extends Filing Deadlines but Payments Continue
The IRS extended tax deadlines to February 2, 2026, for federally declared disaster areas. This includes individual and…
Union Budget 2026-27 Sets 30% Tax Rate on Unexplained Income in Cash Credits and Investments
India has proposed a new 30% tax rate for unexplained income starting in FY 2026-27. While the rate…
India Grants Tax Holiday to Foreign Companies Using Data Centres
Finance Minister Nirmala Sitharaman announced a tax holiday through 2047 for foreign cloud firms using Indian data centers…
Union Budget 2026-27 Shifts Share Buyback Taxation to Capital Gains for Minority Investors
The Indian Union Budget 2026-27 reclassifies share buybacks as capital gains for most investors. Retail holders benefit from…