RNOR Misconceptions NRIs MUST Avoid

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Are you an NRI planning to return to India or have recently moved back? Understanding the RNOR (Resident but Not Ordinarily Resident) status can save you from major tax pitfalls, but only if you truly understand how it works.

Topics Covered:
- What is RNOR status?
- Which foreign income is really tax-exempt?
- RNOR vs. Regular Resident taxation
- Duration of RNOR status and how to qualify
- NRE/FCNR account interest – when it becomes taxable
- The myth of automatic RNOR application
- Lack of awareness among professionals
- Why DTAAs matter post-RNOR

Key Takeaways:
- RNOR status is a temporary tax benefit for returning NRIs
- Not all foreign income is tax-free — business/professional income controlled from India is taxable
- Indian-sourced income remains fully taxable even during RNOR
- RNOR benefits typically last up to 3 financial years
- Interest on NRE/FCNR accounts becomes taxable once you become a regular resident — unless moved to an RFC account
- RNOR is not auto-applied — you must calculate and claim it correctly
- Work with cross-border tax experts who understand RNOR intricacies

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Disclaimer: This video is for educational purposes only and does not constitute financial or legal advice. Please consult with a professional advisor for your specific situation.

Видео RNOR Misconceptions NRIs MUST Avoid канала Alok Dubey, CFP®