Blog Archives

Income Tax Redemption possible for an NRI?

If your total income in India, including rental income is below the basic exemption limit of Rs 1.6 lakh, you can get a TDS exemption. But the process can be complicated. You would need to apply to the tax authorities

Posted in NRI

Is deemed income from house property taxed in foreign country?

You would need to look at the tax code in your country of residence. In the case of NRIs in the United States, the US tax code does not tax deemed income. However, you would still have to show the

Posted in NRI

What is deemed Income Tax and how does it affect an NRI?

According to the Indian Income Tax Act, if a person (resident or NRI) owns more than one house property, only one of them will be deemed as self-occupied. There will be no income tax on a self-occupied property. The other

Posted in NRI

Does an NRI pay tax on the rental income in the country of residence?

When you are an NRI, you are obviously a resident of another country for tax purposes. And in most cases, countries levy tax on residents on their global income. So it may happen that as per provisions of the Indian

Posted in NRI

Will the NRIs be taxed on their rental income?

Yes, since this income is earned in India, tax will be payable by the NRI in India. In fact, tax will be deducted at source by the payer of the rent, a.k.a tenant. The tenant must obtain a TAN number

Posted in NRI

Can NRIs earn rental income from renting properties in India?

An NRI is legally allowed to rent out the property he owns in India. The rent income can be received in two ways: 1. The rental income can be deposited to the NRE or NRO account with an Indian bank.

Posted in NRI

What is Rent Control Act?

Rent Control Act was an attempt by the Government of India to eliminate the exploitation of tenants by landlords. Rent legislation tends to providing payment of fair rent to landlords and protection of tenants against eviction. But the allowances have

Posted in Uncategorized

Rental Agreement Format in India

A Rental Agreement is a legal document, which settles down the rules and regulations to follow by both the landowner and tenant party. It is very important for both the parties, as it contains essential business details. If any of the point

Posted in Uncategorized

Can I setup an office at home?

Given the rent of properties have sky-rocketed recently, it is very tempting to start an office at home within one room of the apartment. Is it allowed by law to do that? Let’s check. Who can setup a home office?

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Posted in Rent Residential Properties

What to check in a property before renting?

Before you sign the rental agreement on a property, check for the following things: •Damp Walls and Doors - Check for any damp walls and doors in the house/apartment. It could be a sign of major leakage in the house or

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Posted in Rent Residential Properties
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