For taxation purposes, before investing in India, an NRI will have to apply for a Permanent Account Number (PAN) necessary for compliance. NRIs are liable to pay taxes only on the income earned in India, while income earned outside India remains tax-free. NRI’s do not need to file a return of income if total income includes only investment income and long-term capital gains arising from the transfer of a foreign exchange asset wherein tax has been deducted from such income.
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