4

I was a NRI in Saudi Arabia from Nov 2009 to October 2011. I have transferred money from my Saudi Account to my NRI joint account in India. After which I transferred it to my own savings account in the same bank. At present I am back in India from October 2011 and working here. I want to know whether the money I transferred to my NRI Account is taxable. Whether I have to file my returns for those 2 yrs. I have been filing my returns regularly from 2012. Please help me out here.

1

I want to know whether the money I transferred to my NRI Account is taxable.

No taxes. As you were NRI the funds you earn are not taxable in India irrespective of whether you transfer to India or keep it in Saudi. You can transfer this back to India anytime in 7 years after you become Resident Indian.

I was a NRI in Saudi Arabia from Nov 2009 to October 2011.

For the financial year 1 April 2009 to 31 March 2010, you would be treated as resident Indian and you Global income would be taxed. i.e. your income in Saudi from Nov 2009 to March 2010 would be taxed in India. You can claim DTAA.

Whether I have to file my returns for those 2 yrs.

Ideally Yes. If you have not done, please consult a CA for advice.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.