What are the types of non taxable incomes for NRIs?
The following are some items of income of NRIs that are exempt from tax under the provisions of the Income Tax Act. • Interest on Non Resident External Account (NRE) in a Bank. • Interest on RBI approved foreign currency deposits-FCNR (B) deposits. • Interest on notified Relief Bonds. • Other notified Bonds and Certificates. • Dividends on shares of domestic companies. • Income from specified Mutual Funds. • Long Term Capital Gains of sales of shares of Indian Co/Equity Oriented Mutual Funds on a recognized stock exchange. • Other items specified in Section 10 of the Income Tax Act.
