Taxation for Indian Seafarers: Mastering the NRI Status
Understanding your tax liability is crucial for financial stability. To qualify for tax-exempt income in India, a seafarer must meet the criteria for Non-Resident Indian (NRI) status by staying outside India for 182 days or more during the financial year. Miscalculating this can lead to serious legal and financial issues.
SWIF provides essential financial literacy resources, helping members correctly track their days and understand the regulations surrounding NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts. We offer guidance on required filings and investment strategies to ensure your hard-earned income is utilized efficiently for your future.
