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Selling property in India can trigger very different TDS rules for NRI and resident sellers. While buyers generally deduct 1% TDS on qualifying purchases from residents, NRI property sales are taxed differently, with the deduction linked to applicable capital gains tax rates.
NRIs transferring money in India must choose between NRO and NRE accounts. NRO accounts manage local income, while NRE accounts are for foreign earnings. Check fund transfer rules and limit between the two accounts.
ITAT Mumbai cut an NRI's tax penalty from 200% to 50% after she omitted 14.46 lakh in interest income from her ITR. The tribunal held mere omission isn't automatic misreporting, citing her overseas residence, reliance on an accountant, and voluntary tax payment once notified.
An NRI in Singapore for 12 years visited India to manage inherited assets after their mother's death. They anticipate a three-month stay and are questioning whether it will make their Singapore salary taxable in India.