{"id":4743,"date":"2023-08-05T17:00:04","date_gmt":"2023-08-05T11:30:04","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=4743"},"modified":"2024-07-13T13:25:23","modified_gmt":"2024-07-13T07:55:23","slug":"rnor-status-for-nris-understanding-the-tax-implications","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/","title":{"rendered":"RNOR Status for NRIs: Understanding the Tax Implications"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Non-Resident Indians (NRIs) are individuals of Indian origin who reside outside of India for a certain period during a financial year. NRIs are subject to different tax rules and regulations compared to Resident Indians. However, we know a special category of NRIs as Resident but Not Ordinarily Resident (RNOR) who enjoy certain tax benefits. Let&#8217;s dive deeper into what RNOR status entails and the tax implications associated with it.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#Who_is_Considered_an_RNOR\" title=\"Who is Considered an RNOR?\">Who is Considered an RNOR?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#Tax_Implications_for_RNORs\" title=\"Tax Implications for RNORs\">Tax Implications for RNORs<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#1_Taxation_of_Foreign_Income\" title=\"1. Taxation of Foreign Income: \">1. Taxation of Foreign Income: <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#2_Exemption_from_NRENRO_Account_Interest\" title=\"2. Exemption from NRE\/NRO Account Interest:\">2. Exemption from NRE\/NRO Account Interest:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#3_Taxation_of_Capital_Gains\" title=\"3. Taxation of Capital Gains: \">3. Taxation of Capital Gains: <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#4_Deduction_and_Exemptions\" title=\"4. Deduction and Exemptions:\">4. Deduction and Exemptions:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#5_Taxability_of_Indian_Income\" title=\"5. Taxability of Indian Income: \">5. Taxability of Indian Income: <\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Who_is_Considered_an_RNOR\"><\/span><strong>Who is Considered an RNOR?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">According to the Indian Income Tax Act, an individual can qualify as an RNOR if he\/she satisfies any of the following conditions:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If an individual has been a Non-Resident in India for nine out of the ten preceding financial years.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If an individual has stayed in India for a total period of 729 days or less during the preceding seven financial years.<\/span><\/li>\n<\/ul>\n<p>If someone meets either of these conditions, tax authorities will consider him\/her an RNOR for a particular financial year.<\/p>\n<p><b>Consult CA Arun Tiwari for more info at \ud83d\udcde\u00a0 8080088288 or <\/b><a href=\"mailto:cs@aktassociates.com\"><b>cs@aktassociates.com<\/b><\/a><\/p>\n<p><a href=\"https:\/\/pages.razorpay.com\/akt-nri-tax-consulting\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4745 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/C.png5498.png\" alt=\"\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/C.png5498.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/C.png5498-300x64.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tax_Implications_for_RNORs\"><\/span><strong>Tax Implications for RNORs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">RNORs enjoy certain tax benefits as they are subject to different tax rules compared to Resident Indians and Non-Resident Indians.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"1_Taxation_of_Foreign_Income\"><\/span><span style=\"font-weight: 400;\"><strong>1. Taxation of Foreign Income:<\/strong> <\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">In contrast to Resident Indians, tax authorities do not require RNORs to pay tax on their foreign income if it is not earned from a business or profession controlled or established in India. This means that income earned by an RNOR outside of India, such as salary, rent, interest, or capital gains, is not liable to tax in India unless it is related to a business or profession in India.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"2_Exemption_from_NRENRO_Account_Interest\"><\/span><strong>2. Exemption from NRE\/NRO Account Interest:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\"> RNORs are exempt from tax on interest earned on their Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts for a period of two consecutive financial years after their return to India. However, after the expiry of the two-year period, the interest earned on NRE and NRO accounts becomes taxable.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"3_Taxation_of_Capital_Gains\"><\/span><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><strong>3. Taxation of Capital Gains:<\/strong> <\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RNORs are eligible for concessional tax rates on capital gains. Long-term capital gains on the sale of specified assets, such as equity shares, equity-oriented mutual funds, and immovable property, <\/span><\/span>Tax authorities tax them at a flat rate of 20% with indexation benefits. Tax authorities apply normal slab rates applicable to Resident Indians to tax short-term capital gains on the sale of specified assets.<\/p>\n<p><a href=\"https:\/\/aktassociates.com\/nri-tax-compliance\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4746 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/Are-You-Stuck-In-NRI-Taxation-Process.png\" alt=\"\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/Are-You-Stuck-In-NRI-Taxation-Process.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/Are-You-Stuck-In-NRI-Taxation-Process-300x64.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<h4><span class=\"ez-toc-section\" id=\"4_Deduction_and_Exemptions\"><\/span><strong>4. Deduction and Exemptions:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\"> RNORs are not eligible for certain deductions and exemptions available to Resident Indians, such as standard deduction, deductions under Chapter VI-A, and exemptions for House Rent Allowance (HRA), Leave Travel Allowance (LTA), etc.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"5_Taxability_of_Indian_Income\"><\/span><span style=\"font-weight: 400;\"><strong>5. Taxability of Indian Income:<\/strong> <\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Tax authorities tax RNORs on their Indian income in the same manner as they tax Resident Indians. This includes income earned from a business or profession in India, salary earned in India, rental income from properties in India, and other income generated within India.<\/span><\/p>\n<p><strong>Conclusion<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">RNOR status is a special category of tax residency for NRIs that provides certain tax benefits. It is important for NRIs to understand the criteria for qualifying as an RNOR and the tax implications associated with it. We recommend seeking professional tax advice to ensure compliance with the Indian Income Tax Act and to maximize tax benefits. It&#8217;s also essential to keep in mind that tax laws and regulations are subject to change, and it&#8217;s always advisable to stay updated with the latest rules and consult a tax expert for accurate and up-to-date information.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Non-Resident Indians (NRIs) are individuals of Indian origin who reside outside of India for a certain period during a financial &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"RNOR Status for NRIs: Understanding the Tax Implications\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/#more-4743\">Read more<span class=\"screen-reader-text\">RNOR Status for NRIs: Understanding the Tax Implications<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":4749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[107],"tags":[118,332,335,334,333],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RNOR Status for NRIs : Understanding the Tax Implications<\/title>\n<meta name=\"description\" content=\"This article delves into RNOR status and taxation for NRIs in India, covering tax benefits, foreign income taxation, NRE\/NRO interest exemption, and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aktassociates.com\/blog\/rnor-status-for-nris-understanding-the-tax-implications\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RNOR Status for NRIs: Understanding the Tax Implications\" \/>\n<meta property=\"og:description\" content=\"This article provides a detailed overview of the Resident but Not Ordinarily Resident (RNOR) status for Non-Resident Indians (NRIs) in India. It explains the criteria for qualifying as an RNOR, the tax implications associated with this status, and the tax benefits that RNORs enjoy. The article covers topics such as taxation of foreign income, exemption from NRE\/NRO account interest, taxation of capital gains, deduction and exemptions, and taxability of Indian income. 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It explains the criteria for qualifying as an RNOR, the tax implications associated with this status, and the tax benefits that RNORs enjoy. The article covers topics such as taxation of foreign income, exemption from NRE\/NRO account interest, taxation of capital gains, deduction and exemptions, and taxability of Indian income. 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