Tax Obligations for Income Earned through NRI Trading Accounts in India

Is income earned in my NRI account subject to taxes?

Yes, any income earned through your NRI account from transactions in India falls under the purview of the Income Tax Act, 1961, specifically section 5, which deals with the scope of total income.

Given the complexities of tax obligations, we strongly suggest consulting with a tax professional. They will provide tailored advice considering the type and amount of your income earned in India and assist in accurately determining your tax liabilities.

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