US NRIs Face Double Taxation Woes

US NRIs in Tax Trouble

US NRIs Face: India has emerged as home to the world’s largest overseas diaspora, boasting approximately 32M Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs).

Predominantly concentrated in Gulf countries, along with significant populations in Singapore, the US, Canada, and the UK, NRIs seek opportunities abroad for jobs and education while maintaining ties with their homeland.

US NRIs Face New..

Despite efforts by the Indian government to simplify taxation for NRIs, navigating the tax landscape remains complex. A recent survey by SBNRI, a platform catering to NRIs and OCIs, sheds light on the challenges faced by these individuals in filing taxes in 2024.

While revisions aim to streamline the process, tax-related issues persist, necessitating expert guidance for NRIs. Tax savings options present lucrative opportunities amidst the filing woes.

SBNRI’s survey delves into the reasons for Indians living abroad, with significant percentages citing better job prospects. Notably, a fraction of NRIs, including 5% from Singapore, 4% from the UK, and 2% from the US, opt not to file tax returns in India, adding to the complexities of the tax landscape.

As India’s NRI population continues to grow, addressing taxation challenges remains paramount to ensure seamless financial integration for NRIs and OCIs worldwide.

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