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Home   NRI   Basics   Tax Benefits for NRI  
Income from the following investments made by NRIs/PIOs out of convertible foreign exchange is totally exempt from tax:
  • Deposits in under mentioned bank accounts
    • Non Resident External Rupee Account (NRE)
    • Foreign Currency Non Resident Account (FCNR)
  • Units of Unit Trust of India and specified mutual funds , other specific securities , bonds and savings certificates (subject to the conditions prescribed under the Income tax laws and regulations).
  • Dividend declared by Indian company.
  • Long term capital gains arising from transfer of equity shares in a company and/or equity oriented schemes of Mutual Funds , which are subject to Securities Transaction Tax.
It should be noted that the tax exemption related to NRE bank deposits will case immediately upon the NRI/PIO becoming a resident in India whereas the interest on FCNR bank deposits will continue to be tax free as long as the NRI maintains the status of the Resident but Not Ordinarily Resident or until maturity, whichever is earlier.
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