I Bought A Flat, Earning Rs 3 Lakh As Rent, Can NRIs Must Pay Tax For Income In India
By Unregistered Visitors, Section Ask Questions
Posted on Sat May 03, 2008 at 05:24:29 AM EST
Q I am a non-resident Indian. I bought a flat in July 2000 jointly with my wife out of the funds earned abroad and remitted through a bank. I have let out the flat and am earning Rs 3 lakh per annum as rent, which I presume can be repatriated. Is this amount taxable with my other interest income in India, even if the amount is retained in India or will it be taxed only if I repatriate the money?