Dear Mr. Sreekanth-ji,
I am an NRI with some taxable rental and interest (from NRO deposit) income and in India which is deposited at NRO account. Please clarify and advise if NRI is eligible for tax deductions; such as ELSS, LIC premium and Medical insurance premium which have been paid from NRO account.
NB: Total Indian income comes to almost Rs 5 lacs.
Thanking you in advance,
1 Answers
Dear Sir,
Yes, NRIs can claim tax deductions by investing in tax saving ELSS funds, on premium payments of Life insurance / health insurance policies. The amount can be paid/invested through NRO accounts.
Related articles :
https://www.relakhs.com/residential-status-calculator-nri-taxation/
https://www.relakhs.com/double-taxation-avoidance-agreement/
https://www.relakhs.com/latest-amendments-nsc-ppf-rules-nris/
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