Tax on rental income for NRI

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  1. Sm689

    Sm689 New Member

    Hello
    I am an Nri and own a property in india jointly with my husband. We have the property on rent. I understand we need to pay taxes if our yearly rental income exceeds the tax exempt income slab. Can you please tell me if the slab that will apply will be the individual slab of 2.5 lakh or another slab for both of us combined. We both work in US. Thanks a lot
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Both of you would be having the slab rates of 2,50,000 individually.
     
  3. Sm689

    Sm689 New Member

    Thank you for your reply. Just to clarify the rental income gets deposited to our joint nro account and the property is also owned jointly. So the rental income for tax purposes is viewed as 50% by each of us individually? The checks are written out in my name only even though they get submitted to a joint account. Also does section 194i apply to us or 195? Thank you so much !
     
  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    Yes, the rent received would be treated as 50% for tax purposes.
     
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