Personal Tax Rates for NRIs in India:

Personal Tax Rates for NRIs in India In the case of Non-Resident Indians (NRIs), income accrued or arising in India is taxable in India only. Before knowing personal tax rates for NRIs in India, here are some examples of income that will be taxable in India.

• Interest income from fixed deposits, bonds and NRO accounts,
• Rent from from Property in India,
• Capital Gain from sale of shares, Mutual Funds etc. in India,
• Capital Gain on sale of property in India,
• Salary earned for work done in India or paid by the Indian Government,
• Business income from ventures controlled or operated in India,

Salary and Rental Income are taxed at Slab Rates. Here are the slab rates as per the new and old tax regimes. The Slab Rates as per the Old Tax Regime:

Tax Slabs (INR)	Tax Slabs (USD (Appx))	Tax Rate	Surcharge	Cess
0 to 250000	0 to 2924	0%	0%	0%
250001 to 500000	2924 to 5847	5%	0%	4%
500001 to 1000000	5847 to 11695	20%	0%	4%
1000001 to 5000000	11695 to 58473	30%	0%	4%
5000001 to 10000000	58473 to 116945	30%	10% on Full Tax	4%
10000001 to 20000000	116945 to 233891	30%	15% on Full Tax	4%
20000001 to 50000000	233891 to 584727	30%	25% on Full Tax	4%
Above 5000000	Above 584727	30%	37% on Full Tax	4%

Slabs as per the new tax regime:

Tax Slabs (INR)	Tax Slabs (USD (Appx))	Tax Rate	Surcharge	Cess
0 to 300000	0 to 3508	0%	0%	0%
300001 to 700000	3508 to 8186	5%	0%	4%
700001 to 1000000	8186 to 11695	10%	0%	4%
1000001 to 1200000	11695 to 14033	15%	0%	4%
1200001 to 1500000	14033 to 17542	20%	0%	4%
1500001 to 5000000	17542 to 58473	30%	0%	4%
5000001 to 10000000	58473 to 116945	30%	10%	4%
10000001 to 20000000	116945 to 233891	30%	15%	4%
Above 20000000	Above 233891	30%	25%	4%

Important Points:

• New Tax Regime is clearly beneficial for High income NRIs (Income > 5Cr)
• NRI's are not eligible for rebate.
• NRI's can claim Income Tax Exemptions/Deductions as per eligibility
• The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112, 112A and Dividend Income.
• NRI's can claim Marginal Relief on Surcharge.
• NRI can claim 30% Standard Deduction on Rental Income

Capital Gain on Sale of Immovable Property in India: If the property is held for more than 2 years, it will be a LTCG, else it will be STCG. If Immovable Property sold after 22.07.2024: The LTCG is taxed at the rate of 12.5% and STCG is taxed at slab rates. If Immovable Property before 23.07.2024: The LTCG is taxed at the rate of 20% (with indexation benefit), and the STCG is taxed at slab rates. Capital Gain on Sale of Equity Shares/ Equity Orinted Mutual Fund in India: If held for more than 1 year, it will be a LTCG, else it will be STCG.

• Tax on LTCG will be 10% if sold before 23.07.2024
• Tax on LTCG will be 12.5% if sold after 22.07.2024
• Tax on STCG will be 15% if sold before 23.07.2024
• Tax on STCG will be 20% if sold after 22.07.2024

Tax on Foreign Currency Convertible Bonds (FCCBs), Foreign Currency Exchangeable Bonds (FCEB), Global Depository Receipts (GDRs) of an Indian company or a Public Sector Undertaking (PSU)

• Tax on LTCG will be 10% if sold before 23.07.2024
• Tax on LTCG will be 12.5% if sold after 22.07.2024
• 10% on Interest Income or Dividend Income

Tax on Other Incomes:

• 20% on dividend income [10% on dividend received from a unit in an International Financial Services Centre]
• 20% on Interest Income
• 20% on Royalty and Fees for Technical Services

Due Date of Filing ITR: The due date for filing the income tax return is 15th September 2025 where Audit is not applicable. Can NRI File ITR-1 or ITR-4: No, an NRI cannot file ITR-1 or ITR-4 as they are considered as simple returns. Individuals can either file ITR 2 or ITR 3.