Returning Indian RNOR Calculation: 2 or 3 Years?

Ans: A returning Indian can qualify as a Resident but Not Ordinarily Resident (RNOR) for either 2 or 3 financial years after returning to India. The number of years depends on their past non-resident status and duration of stay in India.

Conditions to Qualify as RNOR
A returning Indian will be an RNOR if they meet either of the two conditions:

Condition 1: They have been a Non-Resident Indian (NRI) in 2 out of the last 10 financial years before returning to India.

Condition 2: Their total stay in India in the last 7 financial years is 729 days or less before returning.

If any one of the above conditions is met, the person gets RNOR status.

RNOR Status Duration – 2 Years or 3 Years?
RNOR for 2 Years: If the individual satisfies any of the RNOR conditions, they get RNOR status for 2 financial years after returning.

RNOR for 3 Years: If the individual was an NRI for 9 or 10 years out of the last 10 financial years, then RNOR status extends for 3 financial years.

This extended benefit is useful for taxation purposes, especially for foreign income and investments.

Let me know if you need further clarification.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment