Tax on Foreign Income of Resident Indian – Complete 2025 Guide by Capital Gurukul
If you are a Resident & Ordinarily Resident (ROR) in India, any foreign income earned is taxable above the basic exemption limit—₹3 lakhs under the new regime and ₹2.5 lakhs under the old regime. All global income must be reported in the Income Tax Return (ITR), including mandatory disclosure of foreign assets in Schedule FA. Penalties for non-disclosure can go up to ₹10 lakhs per asset per year. Double Taxation Avoidance Agreements (DTAA) and careful… Read More »Tax on Foreign Income of Resident Indian – Complete 2025 Guide by Capital Gurukul