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
Visa Holders and Nris Face IRS Refund Delays as Form 1040-NR, ITIN, Treaty Claims Stall
IRS warns Form 1040-NR refunds can take 6 months. Delays for visa holders and NRIs are tied to ITIN, treaty claims, and withholding mismatches in 2026.
H-1B Workers Risk Filing Wrong U.S. Tax Return as Form 1040-NR Meets Substantial Presence Test
H-1B workers should not assume visa status determines tax filing. The substantial presence test, foreign income, and transition…
Failure-To-File Penalty Hits Harder Than Failure-To-Pay After April 15 Tax Deadline
The IRS failure-to-file penalty is 10x higher than late-payment fees. File by the 2026 deadline to save money,…
PM Modi Urges Indians to Halt Gold Buying for a Year to Protect Foreign Exchange
NRIs and Indian families are reassessing gold, bonds, and stocks in 2026 to prioritize liquidity and tax compliance…
India Taxes Gains on Unlisted Bonds as Short-Term Under Section 50AA from July 23
New India tax rules treat unlisted bond gains as short-term capital gains from 2024, favoring listed debt for…
Missed April 15, 2026 Tax Deadline? File Now and Use IRS Payment Plans to Cut Penalties
Missed the April 15, 2026 tax deadline? File now, pay what you can, and check whether you filed…
Australia Tightens Negative Gearing, Replaces 50% Capital Gains Tax Discount from 2027
Australia proposes 2027 reforms to negative gearing and capital gains tax, favoring new builds over existing homes to…
Salaried Taxpayers Face July 31 ITR Deadline for AY 2026–27 Under Income-Tax Act, 1961
India sets 31 July 2026 for salaried tax filing and 31 August for non-audit business taxpayers. Proper form…
LLC Members and Foreign Investors Must Track Outside Basis with Recourse and Nonrecourse Debt
Outside basis determines if partnership losses are deductible and if distributions are taxable, fluctuating based on income, contributions,…
Companies and Co-Ops Keep Normal Depreciation Under Concessional Tax Regimes. But Lose Additional
Indian companies must choose between lower tax rates and additional depreciation incentives under sections 115BAA, 115BAB, and 115BAD…