NRI and PIO aka Non Resident Indian and Person of Indian Origin are the tow terms most commonly used interchangeably. However, these two have basic differences in them. Take a look below.

An Indian-origin individual living outside India is termed a Non-Resident Indian (NRI). The Income Tax Act, 1961, outlines different tax rules for residents and NRIs. Residency status is ...

A person would be a resident of India for income-tax purposes if he is in India for more than 182 days during the fiscal, beginning 1 April and ending 31 March.

In case an Indian citizen or person of Indian origin who is outside India, comes on a visit to India during the FY, 60 days threshold is replaced with 182 days if total income (other than incomes ...

I have been a domiciled tax resident of the UK for many years. Usually, I spend 4-5 months of winter every year in India. Because of the 120-day rule, I no longer qualify as a non-resident in India.

There are over 30 million non-resident Indians (NRIs) across the Middle East, U.S., UK, Canada, Singapore and other countries. Most NRIs have some income or assets in India such as bank deposits ...

India’s Kotak Mahindra Bank Ltd. announced on Aug. 30 the launch of a credit card designed for the Non-Resident Indian segment, which includes Indian citizens who have migrated to another country, are ...

It is not the country of origin, but the number of days’ stay in India, which determine whether a person will be a resident or non-resident for tax purposes (see table).

A non-resident Indian means an individual, who is not a resident and is (i) a citizen of India; or (ii) a person of Indian origin. Here are some key Clauses for NRI’s to take note of.

It should be noted that, if someone is an Indian citizen working abroad or a crew member on an Indian ship, only the first condition is available to them – which means they will be treated as a ...