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Section 80C for NRIs: What You Can Claim — and What Can Cost You Later
🚨 NRIs often assume every 80C investment automatically gives tax benefits in India. That mistake can lead to incorrect tax filing and unnecessary notices. ✅ NRIs CAN claim deductions under Section 80C — but only for eligible investments linked to taxable Indian income. ✔️ Commonly allowed deductions: • Life insurance premium • ELSS mutual funds • Home loan principal repayment • Tuition fees paid in India ❌ But not every popular investment qualifies for NRIs: • New PPF accoun
Jaya Mittal
4 days ago1 min read
Advance Tax for Seafarers: Why Foreign Salary Alone Doesn’t Guarantee Zero Tax Liability in India
⚓ Many seafarers believe: “My salary is foreign income, so I don’t need to worry about taxes in India.” That assumption can become costly if you have additional income sources in India. ✅ You may not need to pay advance tax if: ✔️ Your income is fully foreign ✔️ You qualify as an NRI ✔️ Your foreign salary is exempt in India But the situation changes if you also earn: 🏠 Rental income in India 📈 Capital gains 🏦 Interest income from savings, FDs, or investments ⚠️ In such ca
Jaya Mittal
4 days ago1 min read
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