 "House rent")
Non-resident Indians (NRIs) who rent or sell real estate in India should understand the rules that govern taxation of rental income and capital gains. In most cases, the rules are similar to those that apply to resident Indians, but there are a few differences.
Tax on rental income
When a taxpayer (resident or NRI) owns more than two houses, any two chosen by her will be deemed to be self-occupied, assuming they are not rented out. No income tax is payable on those two self-occupied properties.
