Indian Nationals staying abroad play a major role in the Indian economy. Every year thousands of Indians migrate to foreign countries for achieving better prospects for themselves and their family members. The non-resident Indians may remit their income earned abroad in the form of investments, savings or, remit the amount to the account of their family members who are residents in India.
The World Bank measures the creditworthiness of the nation through remittance inflows by the non-resident Indians. Each NRIs money transfer adds to the wholesome development of the Indian economy.
Though many analysts have been stating the growth to the Indian economy through non-resident Indians on forex markets, the people abroad are ignorant of their contribution to the Indian economy. As many do not have the knowledge of their residential status when shifted to abroad, follow rules or regulations to bring money into India or, tax implications on income generated on their property in India.
A non-resident Indian may earn income by way of interests on bank accounts maintained in India, rental income from investment in real estate, passive business income operated in India, capital gains from the transfer of properties, dividend income from investment in securities or return on mutual funds in India, etc. These incomes are broad categories of earnings by a non-resident Indian in India by way of remittances made to India apart from their salary income or income from business or profession earned abroad.
A non-resident Indian would be taxable in India if any of the incomes stated above deem to accrue or arise in India. For a non-resident Indian though global income may not be taxable, any income that arises out of property or security situated in India, non-resident Indian has to declare such earnings and file return of income in India. Yet, a check on taxability is primitive in such cases. Consulting a professional on these matters would make your job easier.