Property Matters: NRI Tax and Asset Rules In India - DOT.in

The article from DOT.in Australia explains that NRIs living in Australia who own property or earn income in India should actively manage their assets instead of relying on informal family arrangements, as property systems and documentation practices differ between the two countries. It highlights the importance of maintaining proper records, monitoring rental income, and ensuring legal clarity to reduce the risk of disputes or financial loss. The article also notes that income from Indian property must be reported in both India and Australia, as the Double Taxation Avoidance Agreement prevents double taxation but not reporting obligations. Additionally, differences in financial years between the two countries can create tax compliance challenges. Finally, it emphasizes the importance of succession planning and having a valid Indian will to avoid legal delays and complications for family members in the future.
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