# NRI Financial Planning in India: Your Indian Money > NRI financial planning for your Indian money: NRE vs NRO, TDS on NRO interest, when you must file in India, and one view of your Indian bank statements. Source: https://trykosh.com/for/nris Kosh for nris # NRI financial planning for the money you keep in India Rent from a flat in Pune, interest in an NRO account, SIPs you started before you left. Kosh reads your Indian statements and keeps that side of your life organised from abroad. ## What gets in the way ### Is my NRO interest taxed twice? Banks deduct TDS at 30% plus surcharge and cess on NRO interest, often far more than your actual Indian tax. Unless you file a return, the excess stays with the government. ### Rent with the wrong TDS A tenant paying rent to an NRI must deduct TDS under section 195, whatever the amount. Many don't, and the shortfall becomes your problem at filing time. ### Am I still an NRI this year? A long visit home, a sabbatical or a planned return can change your residential status. That decides what India can tax, and it's easy to get wrong. ### Accounts that should have changed Savings accounts opened as a resident must be redesignated as NRO once you become an NRI. Old accounts, PPF and insurance nominations drift out of date. ### Money in five places, none of them here NRE, NRO, a credit card, a CAS of mutual funds and a home loan, all in India, checked from a different time zone. ## What Kosh does about it ### Reads your NRE and NRO statements They're Indian bank statements, so Kosh reads them like any other, as PDF, CSV or photo, and sorts rent, interest, transfers and EMIs. ### Maps your Indian income Rent, NRO interest and dividends in one place, so you know what to report in your Indian return and what TDS was deducted on it. ### Tracks your Indian investments Upload your CAMS or NSDL CAS and see your Indian mutual funds and demat holdings alongside your bank balances. ### Reminds from abroad Email reminders before Indian card dues, SIP dates, premium renewals and the Indian return deadline, so nothing lapses while you're away. ### Stays in its lane Kosh plans your Indian money. It doesn't decide your residential status or advise on foreign tax; that's for a CA who handles NRI cases. ## Free tools for nris [Free tool**Tax on FD interest calculator**Fixed deposit interest is taxed at your slab rate, and banks deduct TDS above a threshold. See the real tax on your FD, the TDS, and whether you'll owe more or get a refund.](/tools/tax-on-fd-interest-calculator)[Free tool**Income tax calculator**Work out your income tax for FY 2026-27 under both regimes in one go. Kosh applies the current slabs, the INR 75,000 standard deduction, the 87A rebate, surcharge with marginal relief and 4% cess.](/tools/income-tax-calculator)[Free tool**Capital gains tax calculator**Pick the asset, enter the purchase and sale dates and prices, and Kosh tells you whether the gain is short-term or long-term and works out the tax under the FY 2026-27 rules.](/tools/capital-gains-tax-calculator)[Free tool**Mutual fund tax calculator**How a mutual fund redemption is taxed depends on the type of fund, when you bought it and how long you held it. Choose your fund type and Kosh applies the right rule.](/tools/mutual-fund-tax-calculator)[Free tool**Property capital gains calculator**Selling a flat, house or plot? Kosh works out the gain both ways the law now allows, picks the lower tax, and accounts for the circle rate, improvements and section 54 reinvestment.](/tools/property-capital-gains-calculator)[Free tool**Rental yield calculator**Work out what a rented property really earns as a percentage of its value, before and after the costs owners usually forget.](/tools/rental-yield-calculator)[Free tool**Net worth calculator**Your net worth is everything you own minus everything you owe. Fill in the assets and loans Indian households usually hold to see the number, how it is spread and how much of it you could actually use.](/tools/net-worth-calculator) ## A CFO for nris. Upload a statement and Kosh maps your money, works out your tax and tells you the one thing to fix first. Free to start. [Start free](/signup?via=for-nris) ## Your residential status decides everything For Indian income tax you're resident in a tax year if you spend **182 days or more** in India, or **60 days** in the year plus 365 days over the previous four years. For Indian citizens leaving India for a job abroad, and for Indian citizens or persons of Indian origin visiting India, the 60 days becomes 182. If such a visitor's Indian income is over INR 15 lakh, it becomes 120 days. An Indian citizen with more than INR 15 lakh of Indian income who isn't liable to tax in any other country can be treated as resident too. If you're a non-resident, India taxes only income earned or received in India: rent, NRO interest, Indian dividends, capital gains on Indian assets. Your foreign salary isn't taxed here. The [NRI income tax guide](/learn/nri-income-tax-india) covers the in-between status of resident but not ordinarily resident. ## NRE vs NRO, in plain terms NRE account NRO account Money that goes in Foreign earnings sent to India Indian income: rent, dividends, pension, old savings Interest in India Tax-free while you're an NRI Taxable, with TDS at 30% plus surcharge and cess Taking money out of India Fully repatriable Up to USD 1 million a financial year, after tax, with Form 15CA (and 15CB where needed) When you return for good Redesignate as a resident account or RFC Redesignate as a resident account NRE interest that's tax-free in India may still be taxable where you live, so check your residence country's rules. India has tax treaties (DTAA) with many countries that can lower the Indian rate or give you credit abroad; claiming them usually needs a tax residency certificate and Form 10F. ## When you need to file in India You generally need to file an Indian return if your Indian income is above the basic exemption limit, INR 4 lakh in the new regime for FY 2026-27, or if you want back excess TDS. The **87A rebate is for residents only**, so the INR 12 lakh tax-free limit doesn't apply to you. On INR 6 lakh of taxable Indian income an NRI pays INR 10,400 in the new regime, where a resident would pay nothing. Because NRO interest is taxed at source at over 30%, many NRIs with modest Indian income are owed a refund they never claim. NRIs with rent, interest and capital gains usually file ITR-2, which is due by 31 July. ### Other things that change when you leave - **Mutual funds:** TDS is deducted on capital gains when an NRI redeems, unlike for residents. The gain is still taxed at the usual rates: see the [mutual fund tax calculator](/tools/mutual-fund-tax-calculator). - **Selling property:** the buyer must deduct tax on your capital gain under section 195, often 12.5% on long-term gains plus surcharge and cess. The [property capital gains calculator](/tools/property-capital-gains-calculator) estimates the gain. - **PPF:** you can't open a new account as an NRI, but one opened while resident can run to maturity. [Free tool**Tax on FD interest calculator**Fixed deposit interest is taxed at your slab rate, and banks deduct TDS above a threshold. See the real tax on your FD, the TDS, and whether you'll owe more or get a refund.](/tools/tax-on-fd-interest-calculator)[Free tool**Income tax calculator**Work out your income tax for FY 2026-27 under both regimes in one go. Kosh applies the current slabs, the INR 75,000 standard deduction, the 87A rebate, surcharge with marginal relief and 4% cess.](/tools/income-tax-calculator)[Free tool**Capital gains tax calculator**Pick the asset, enter the purchase and sale dates and prices, and Kosh tells you whether the gain is short-term or long-term and works out the tax under the FY 2026-27 rules.](/tools/capital-gains-tax-calculator)[Free tool**Rental yield calculator**Work out what a rented property really earns as a percentage of its value, before and after the costs owners usually forget.](/tools/rental-yield-calculator) ## Frequently asked questions Is NRE account interest taxable in India? No, interest on an NRE account is tax-free in India while you qualify as a non-resident. It may still be taxable in the country where you live, so check that country's rules. How much TDS is deducted on NRO interest? Banks deduct TDS at 30% plus surcharge and cess on NRO interest, whatever the amount. If your actual Indian tax is lower, you can claim the excess back by filing an Indian return, or a treaty rate may apply with a tax residency certificate. Do NRIs have to file income tax returns in India? Generally yes, if Indian income is above the basic exemption limit, which is INR 4 lakh in the new regime for FY 2026-27. Filing is also how you claim a refund of excess TDS. NRIs don't get the 87A rebate, so they can owe tax on income a resident would pay nothing on. Is foreign salary taxable in India for an NRI? No. A non-resident is taxed in India only on income earned or received in India, such as rent, NRO interest, Indian dividends and capital gains on Indian assets. Your residential status for the year decides this, so check it first. Can Kosh read my NRE and NRO statements? Yes. They are Indian bank statements, and Kosh reads statements from any Indian bank as PDF, CSV or photo. Kosh plans your Indian money but does not decide your residential status or advise on foreign tax. ## Sources - [Income Tax Department](https://www.incometax.gov.in/) - [Reserve Bank of India](https://www.rbi.org.in/) General information for planning, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.