manamthoupule Posted June 1, 2022 Report Share Posted June 1, 2022 Let say if I earn 50000Rs as rental income in India per month( Rs 6 lakhs per year) how much do we need to pay for taxes ? I've read it's around 30% so is it 180000Rs tax per year ? When I checked https://www.incometaxindia.gov.in/pages/tools/income-tax-calculator.aspx as an NRI the tax is way less. Can someone with rented income as NRI please provide tax liability breakdown please ? Quote Link to comment Share on other sites More sharing options...
anna_gari_maata Posted June 1, 2022 Report Share Posted June 1, 2022 Be clear rental Income in India or US ? Quote Link to comment Share on other sites More sharing options...
manamthoupule Posted June 1, 2022 Author Report Share Posted June 1, 2022 6 minutes ago, anna_gari_maata said: Be clear rental Income in India or US ? @anna_gari_maata Rental income in India bro. Quote Link to comment Share on other sites More sharing options...
rmJU72 Posted June 1, 2022 Report Share Posted June 1, 2022 if ur US resident, you have to pay both india taxes and US taxes. But US lets you deduct the taxes you already paid in india. so if Indian tax is 1L, and ur US federal tax bracket puts the rental income at 1.5L, then you pay 1L to Indian govt first and then pay 50k to US govt claiming that u already paid 1L to India due to a tax treaty. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.