India Fiscal Budget 2026-27 Key Tax Implications for NRIs OCIs and Non-Residents
02/02/2026 Accounting - Finance
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Description
India’s Fiscal Budget 2026 for FY 2026-27 introduces important clarifications and compliance reliefs impacting Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), seafarers and other non-resident taxpayers. While income tax slabs remain unchanged, the continued preference for the new tax regime offers lower rates and simplified compliance for non-residents with Indian income. The budget also extends timelines for filing belated and revised returns, providing flexibility to NRIs managing tax obligations from overseas. These changes aim to reduce procedural complexity and improve tax certainty for the global Indian community.
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