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Other Deductions Like Depreciation, Etc. To Non-Resident Indians

[ Deductions Allowed to NRIs in the Computation of Total Income and Tax Payable]

The deductions discussed in topics 4 to 9 are deductible from the gross total income of the non-resident Indians. However, there are certain deductions and allowances which are available to a non-resident Indian while computing the gross total income itself, such as depreciation and business expenditure which is incidental to trade or industry or profession. Such deductions have not been discussed in this book as they are outside its scope. It would suffice if the non-resident Indian remembers that ordinarily all business expenditure is allowed as a deduction in the computation of profits and gains of a business unless otherwise specifically prohibited by the Income Tax Act. As most nonresident Indians have investment income, a knowledge of the various deductions under Chapter VI-A and rebate of income tax. under Chapter VIII as explained above will suffice for the purposes of enabling the non-resident Indian to compute his total income.

 
Deductions Allowed to NRIs in the Computation of Total Income and Tax Payable
1.Tax Benefit Regarding Life Insurance Premium, PPF Contributions, Nscs, Tuition Fees, etc.
2. Deduction For Donations To Certain Funds And Charitable Institutions
3. Deduction In Respect Of Profits And Gains From A New Industrial Undertaking Or Infrastructural Facility
4. Five-Year Tax Holiday To Hospitals At Certain Locations Sec. 80-1B (IIC)
5. Tax Holiday To Enterprises Providing Telecommunication Services, Industrial Parks, New Hotels And Having Commercial Production Of Mineral Oil
6. Five Year Tax Holiday For New Industrial Undertakings In Industrially Backward Areas & Districts
7. Liberalisation Of Tax Holiday Provision For Infrastructure, Telecom Services, Power Generation, Special Economic Zones, Industrial Parks, etc. [ Section 80-IA]
8. Ten Year Tax Holiday In Respect Of Certain Undertakings In Himachal Pradesh, Sikkim, Uttaranchal And N.E. States Section 80-IC
9. Five-Year Tax Holiday For Hotels In Districts Having A World Heritage Site Sec. 801D
10. Tax Holiday For Hotel And Convention Centres In NCT Of Delhi And Other Areas Section 801D
11. Deduction’ In Respect Of Medical Insurance Premia Section 80D
12. Additional Deduction For Health Insurance Premium Paid For Parents Section 80D
13. Deduction Of Repayment Of Loan For Higher Studies Section 80E
14. Deduction In Respect Of Certain Undertakings In North Eastern States
15. Other Deductions Like Depreciation, Etc. To Nonresident Indians
 
 
 
 
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