NRIs seek relief on tax structures in India – ZAWYA

NRIs seek relief on tax structures in India – ZAWYA

NRIs seek relief on tax structures in India. The NRIs in the UAE are anxiously waiting to see as to what tax sops will be introduced today as the budget gets unveiled for the government to retain the confidence of domestic as well as foreign investors.. NRIs are expecting that their foreign income must not be taxable even after returning to India for at least five years.. It will encourage NRIs to start business in India while at the same time, they can focus their life outside India.. Any transfer, made outside India, of a capital asset being Rupee Denominated Bond (RDB) of an Indian company issued outside India, by a non-resident to another non-resident is exempt from tax.. In order to boost investments, similar exemption may be provided in case of Foreign Currency Denominated Bonds issued by Indian Companies.. Reduction in custom duty can boost NRI investments in gold and confidence in Modi government.. Policies like ease in investment, lower income tax, can really boost NRI investment which in turn will boost Indian economy," said Sinha..