SHORT ANSWER:
NRIs are taxed in India on income earned or accrued in India.
DETAILS:
- NRIs are liable to pay tax on income such as salary, rental income, and capital gains from property in India.
- Income earned outside India is not taxable in India for NRIs.
PUNISHMENT / IMPLICATIONS (if applicable):
- Failure to comply with tax regulations may lead to penalties and interest on unpaid taxes.
SOURCE:
- Income Tax Act, 1961
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