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Can NRIs remit taxes in India without a local bank account?
Mint Mumbai
|August 06, 2025
I am a Singapore citizen. I had invested in an unlisted Indian private company in 2021 through direct equity purchase.
Subsequently, I sold my shareholding to a non-resident Indian (NRI) based in Singapore, after the Indian promoter chose not to exercise his right of first offer under shareholders' agreement. The buyer completed the transaction without deducting taxes at source (TDS). As I do not currently hold an Indian bank account, I would like to understand the detailed procedure for discharging my capital gains tax liability and remitting the applicable taxes to the Indian government while filing my income tax return.
—Name withheld on request
This story is from the August 06, 2025 edition of Mint Mumbai.
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