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Samkit

Samkit Maniar  |180 Answers  |Ask -

Tax Expert - Answered on May 27, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Asked by Anonymous - Apr 01, 2024Hindi
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Hi Sir, I have been Nri for more than 9 years on return back to India how long can i keep my NRI status and any money earned after return to india from foreign sources is it taxable ?

Ans: Once you become resident Indian you are subject to worldwide taxation depending upon your time you stay in India.

Nri status depends upon number of days you stay in India.

You can get tax credit of any taxes paid in foreign country/ ies once you become resident Indian depending tax treaty with that country.

Please take your CAs advice before moving ahead.
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.
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Moneywize

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Asked by Anonymous - May 12, 2024Hindi
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I have been NRI for more than 20 years. If I return to India for how long can i keep my NRI status and will any money earned by me after my return to India from a foreign sources be taxable? If yes, how much tax will I have to pay?
Ans: When you return to India after being an NRI (Non-Resident Indian) for more than 20 years, your tax residency status will change. You will be considered a Resident but Not Ordinarily Resident (RNOR) for the first two financial years (April to March) after your return.

As an RNOR, your foreign income is generally not taxable in India unless it's derived from a business controlled or set up in India. So, any income earned from foreign sources during the RNOR period would generally not be taxable in India.

However, any income earned in India during the RNOR period will be taxable in India, along with any income from a business controlled or set up in India, regardless of whether it's earned domestically or abroad.

After the RNOR period, if you continue to stay in India, you will become a Resident and Ordinarily Resident (ROR) for tax purposes. In this case, your global income, including income earned abroad, will be taxable in India.

Tax rates in India vary depending on the income slab you fall into, and there are also various deductions and exemptions available. It's recommended to consult with a tax advisor in India who can provide personalized advice based on your specific financial situation and the prevailing tax laws at the time of your return.

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Nayagam P

Nayagam P P  |5345 Answers  |Ask -

Career Counsellor - Answered on May 28, 2025

Asked by Anonymous - May 27, 2025
Career
My son got 98.25 percentile in jee mains. Can he get descent can branch. Should he take a drop? Please suggest
Ans: You have not mentioned above his performance in JEE-Advanced & Expected Score. Drop is not very advisable. Anyway, here is, How to Predict Your Son's Chances of Admission into NIT or IIIT or GFTI After JEE Main/Advanced Results – A Step-by-Step Guide

Providing precise admission chances for each student can be challenging. Here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Have some other options also as back-ups instead of relying only on JEE/JoSAA.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your son's admission and a bright future!

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Nayagam P

Nayagam P P  |5345 Answers  |Ask -

Career Counsellor - Answered on May 28, 2025

Nayagam P

Nayagam P P  |5345 Answers  |Ask -

Career Counsellor - Answered on May 28, 2025

Asked by Anonymous - May 27, 2025
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.

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