Are NRIs investment on Fixed Maturity Plans and debt funds of MFs taxable under direct tax code?

What is the tax implication under DTC for NRIs who gained income both short term and long term under Fixed Maturity Plan (FMP) or non equity investment (debt funds) ?

What is the present tax structure?

asked Jul 03 '11 at 15:39 by Amier Hamsa 1222

For income earned inside India, tax structure will remain similar to what an Indian pays for same.

Currently long term gains (more than a year) on FMP and non-equity funds are taxed at 10% without indexation and 20% with indexation benefit. Gains on debt based investments kept for less than a year are added to taxable income and taxed as per slab rates.

answered Jul 04 '11 at 22:35 by Pankaj Batra 5.2k320


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Asked: Jul 03 '11 at 15:39

Seen: 2,739 times

Last updated: Jul 04 '11 at 22:35