Straight from the Specialists
(The views expressed in this column are the author’s own and do not represent those of Reuters)
The grass is not really greener on the other side as many Indians abroad are figuring it out the hard way. Faced with a gloomy economy and career prospects, some are packing their bags and heading back to test the job market.
Though finding a job would be easier in India, especially for those with good degrees and employment background, figuring out the tax liability — especially in the initial years — may be a daunting task. If you are returning to India for employment, there are some tax issues one has to consider before taking the final decision.
This is crucial because the taxability of overseas income (such as rental income from property outside India, capital gains, bank interest, dividends, etc.) for returning Indians largely depends on their residential status in India. Planning the timing of one’s return is very important.