What are the different tax benefits available to NRIs?
- Bank deposits investment in shares, units of mutual funds, etc. are exempt from wealth tax in India
- Interest earned on NRE and FCNR accounts is completely tax-free
- Gift tax has been abolished for all types of gifts from the 1st October 1998
However, gifts received on the occasion of marriage or from relative or under will or inheritance would not be subject to tax.
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