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Foreign income transferred to NRO account may not be taxable

Tuesday, July 25, 2017, 11:00 AM

An individual qualifying as ‘Non-Resident’ is taxable only on income which accrues or arises in India and income which is received or is deemed to be received in India. A ‘Non-Resident’ is not liable to pay tax in India for the income earned and received outside India. Subsequent transfer of such income to NRO Bank account in India is not taxable in India.

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