NRIs cannot claim tax benefits on home loans in India as they have to pay tax in the nation where they work and earn. However, they need to file tax returns to become eligible for home loans. But if they pay tax in India for income earned in India, they can claim tax rebate for the home loan.
RBI defines NRI as "An Indian citizen who holds a valid Indian passport and who stays abroad for employment or for carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a NRI."
NRI home loans on the upswing | NRI's beneifts from Home loan
Posted by Admin Labels: home loans, nri, nri home loans, tax saving
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