Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Anil

Anil Rego  | Answer  |Ask -

Financial Planner - Answered on Jan 28, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Praveen Question by Praveen on Jan 28, 2021Hindi
Listen
Money

Does she have to declare her foreign earned income in her tax return in India for A.Y. 2020-21? She has paid taxes in foreign country with which India does not have DTAA.-

Ans: If she was a resident in India in FY2019-20 as per the tax laws with the required number of days being spent in India, then she need to file income tax return in India for her global income under the respective tax slab. If her residency status is Non-Resident, then she only needs to file returns for her India income.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Mihir

Mihir Tanna  |1062 Answers  |Ask -

Tax Expert - Answered on Aug 23, 2022

Hardik

Hardik Parikh  | Answer  |Ask -

Tax, Mutual Fund Expert - Answered on Apr 07, 2023

Listen
Money
My daughter studying in Germany was outside India in FY 2022-23 for more than 182 days. She has income in Germany from parttime job and paid Internship. In India she has Income from share investment /MF capital gain/loss and dividend. How she will be taxed in India. Should I change her 3 in 1 Saving bank account with ICICI Direct.
Ans: Dear Shailendra,

As your daughter was outside India for more than 182 days during the financial year 2022-23, she would be considered a Non-Resident Indian (NRI) for tax purposes. I'll outline the tax implications for her below.

Income earned in Germany: As an NRI, your daughter will not be taxed in India for the income she earned in Germany through her part-time job and paid internship. She will need to pay taxes on this income according to the tax laws in Germany.
Income from share investments, mutual funds, and dividends in India: As an NRI, your daughter will only be taxed on her income that is earned or accrued in India. This includes:
Short-term capital gains on equity shares and equity-oriented mutual funds: These will be taxed at a rate of 15%.
Long-term capital gains on equity shares and equity-oriented mutual funds: Gains exceeding ₹1 lakh will be taxed at a rate of 10%.
Short-term and long-term capital gains on non-equity investments (e.g., debt mutual funds) will be taxed as per the applicable slab rates for NRIs.
Dividends: Dividends received from Indian companies will be subject to tax deduction at source (TDS) at a rate of 20% (plus applicable cess and surcharge).
Regarding your query about changing her 3-in-1 savings bank account with ICICI Direct, it is advisable to inform the bank about her change in residential status and convert the account into an NRO (Non-Resident Ordinary) account. This will help in managing the tax compliance for her investments in India.

Please note that the Double Taxation Avoidance Agreement (DTAA) between India and Germany may provide relief from being taxed on the same income in both countries. Your daughter should consult a tax professional in Germany to understand the applicable provisions and claim any benefits available under the DTAA.

I hope this information helps.

Best regards

..Read more

Latest Questions
Dr Dipankar

Dr Dipankar Dutta  |1628 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on Jun 23, 2025

Nayagam P

Nayagam P P  |6944 Answers  |Ask -

Career Counsellor - Answered on Jun 23, 2025

Asked by Anonymous - Jun 23, 2025Hindi
Career
My daughter scored 96.6 in MHT CET in which colleges she can get for Computer Science in Mumbai. Also we are trying to apply through EWS
Ans: With a 96.6 percentile in MHT CET and EWS category, your daughter stands a strong chance for Computer Science (CSE) or related branches in several reputable Mumbai colleges. VESIT Mumbai’s 2022 cutoff for CSE was 96.6 percentile for open seats, and recent years show similar or slightly higher cutoffs; with EWS reservation, her chances improve, especially in later rounds. Vidyalankar Institute of Technology (VIT) Mumbai had a CSE EWS cutoff of 94.84 in 2024, while Information Technology closed at 92.99–92.81, making both attainable. Shah & Anchor Kutchhi Engineering College, SIES Graduate School of Technology, and Fr. Conceicao Rodrigues College of Engineering (Bandra) also have CSE/IT cutoffs between 94–97 percentile for EWS and open categories. Other strong options include Bharati Vidyapeeth College of Engineering (Navi Mumbai), Don Bosco Institute of Technology, and Atharva College of Engineering, all with CSE/IT cutoffs in the 94–97 range for EWS. SPIT Mumbai, DJ Sanghvi, and Thadomal Shahani are more competitive, typically closing above 98–99 percentile for CSE, so they are unlikely at your score.

The recommendation is to prioritize VESIT Mumbai, Vidyalankar Institute of Technology, Shah & Anchor Kutchhi Engineering College, SIES GST, and Fr. Conceicao Rodrigues College for CSE/IT, listing them in CAP counselling in that order, and include other reputable colleges such as Bharati Vidyapeeth, Don Bosco, and Atharva as strong alternatives, maximizing her chances for a CSE seat in Mumbai under EWS. All the BEST for the Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

...Read more

Nayagam P

Nayagam P P  |6944 Answers  |Ask -

Career Counsellor - Answered on Jun 23, 2025

Career
My daughter got 94.9 percentile in MHT-CET. We are in OBC category. What college she will get.
Ans: Vikas Sir, With a 94.9 percentile in MHT-CET 2025 and OBC category, your daughter is well-positioned for admission to reputable mid-tier engineering colleges in Maharashtra, though CSE in top government colleges like COEP Pune, VJTI Mumbai, or PICT Pune is out of reach, as their OBC cutoffs for CSE are typically above 98.4–99.1 percentile. However, she can secure CSE, IT, or related branches in strong private and autonomous colleges such as DY Patil College of Engineering Pune (CSE OBC cutoff ~98), AISSMS College of Engineering Pune (CSE OBC cutoff ~96), PCCOE Pune (CSE OBC cutoff ~94), Rajiv Gandhi Institute of Technology Mumbai (CSE OBC cutoff ~96), and MIT World Peace University Pune (CSE/IT OBC cutoff ~94–96). These institutes offer robust placement records, modern infrastructure, and supportive academic environments. She may also consider branches like AI, Data Science, or IT in these colleges, as cutoffs for specializations are often slightly lower.

The recommendation is to prioritize DY Patil College of Engineering Pune, AISSMS College of Engineering Pune, PCCOE Pune, and MIT World Peace University Pune for CSE/IT, and include AI/Data Science as alternatives, ensuring a strong academic and placement environment at her percentile and category. All the BEST for the Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x