India Budget 2022: What financial changes are NRIs wishing for this year?

India Budget 2022: What financial changes are NRIs wishing for this year?

Dubai: With the latest Indian budget for the upcoming year only a couple of weeks away, expectations are riding high this time around for everyone, particularly NRIs. This time, however, the budget is going to be different than before. As the world still battles a raging pandemic, like other countries India too has been managing a massive vaccination drive – albeit for a comparatively larger population. Businesses in the country have suffered, numerous jobs were lost and household budgets have taken a hit. So it can be said that this budget is going to be one of the most keenly awaited ones, partly because everyone is looking to get some form of relief from the Indian government. With the budget now just around the corner and scheduled to be revealed on February 1, 2022, let’s try to summarise what taxes NRIs are paying currently and what they are expecting from this budget. The tax laws in India that apply to NRIs vary significantly when compared to the laws that are applicable for resident Indians. • Income tax slabs for NRIs are based only on the income – barring any gender, age or other specification • In case of TDS (Tax