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

Confused NRI with low India stay: RNOR status and NRE FD interest tax?

Mihir

Mihir Tanna  |1054 Answers  |Ask -

Tax Expert - Answered on Feb 03, 2025

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
SUJAY Question by SUJAY on Feb 02, 2025Hindi
Listen
Money

If my status an NRI for last 7 years and i have stayed only 720 days in india last 7 years then my tax status for current year..can it be considered RNOR ? Do i have to pay tax for income from NRE fixed deposit interest in this current year ?

Ans: As your stay in India less than 730 days, you can not be considered as RNOR unless
you are Indian citizen or person of Indian origin having a total income more than exceeding Rs.15 lakhs (excluding foreign income) and in India for 120 days or more during financial year.

Income of NRE FD is exempt in case of non resident
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

Latest Questions
Nayagam P

Nayagam P P  |5365 Answers  |Ask -

Career Counsellor - Answered on May 28, 2025

Asked by Anonymous - May 28, 2025
Career
Dear Sir, Contemplating on admitting my son to either RVU or RVIT. There seems to be flexibility in course work for RVU syllabus. Both are under RV. Please share your recommendation. Thanks.
Ans: RV University (RVU) and RV Institute of Technology and Management (RVITM), both under the RV umbrella, cater to different educational needs. RVU, established in 2021, is a multidisciplinary university offering programs from engineering to liberal arts, design, and law . It emphasizes interdisciplinary studies, a flexible curriculum, and aims to develop critical thinking and problem-solving skills. RVU is ranked #2 as an emerging state private university . RVITM, in contrast, is an engineering-focused college that aims to shape future technology leaders .

The key difference lies in RVU's flexible coursework, allowing students to tailor their education across various fields, whereas RVITM provides a specialized engineering education . If your son seeks a broad academic experience with the ability to explore multiple disciplines, RVU is more suitable. If he has a clear focus on engineering, RVITM might be the better choice.

Recommendation
Given the emphasis on flexible coursework at RVU, it might be advantageous if your son has varied interests or is unsure about specializing immediately. If a focused engineering education is desired, RVITM is a strong option. Consider your son's academic preferences and career goals to make the best decision. All the best for your son's admission and a bright future!

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

...Read more

Nayagam P

Nayagam P P  |5365 Answers  |Ask -

Career Counsellor - Answered on May 28, 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.

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