R2I before 31st March or after 1st April for maximum RNOR/NRI status
Posted: Wed Mar 16, 2011 12:39 pm
Hi:
Based on the RNOR calculator I am eligible as RNOR. I am planning to move back to India in the next couple of days, but before booking my tickets I wanted to understand if there are any advantage or disadvantage of moving back to India for tax purposes under the below scenarios:
1) On or before 31st March (If I move back before 31st March will I lose one full year of NRI or RNOR status)
2) On or after 1st April
Thanks
PM
Based on the RNOR calculator I am eligible as RNOR. I am planning to move back to India in the next couple of days, but before booking my tickets I wanted to understand if there are any advantage or disadvantage of moving back to India for tax purposes under the below scenarios:
1) On or before 31st March (If I move back before 31st March will I lose one full year of NRI or RNOR status)
2) On or after 1st April
Thanks
PM