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In this article, we will explore the implications of income tax returns for Non-Resident Indians (NRIs) in the financial year 2023-24. Discover valuable insights and guidance on tax responsibilities and financial planning. According to the provisions of the Income Tax Act 1961, NRIs must fulfil tax obligations on their overseas earnings and declare any foreign assets. If an NRI stays in India for more than 181 days in a year, they become subject to the tax and disclosure regulations applicable to Indian residents. Furthermore, if the duration of stay is 120 days.
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