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NRI Income Tax & Compliance

Section 115H Of Income Tax Act: Benefits & Provisions

Ritesh JainBy Ritesh Jain |Last Updated: December 21, 2025
Section 115H Of Income Tax Act: Benefits & Provisions
    2. NRI Income Tax & Compliance
    3. Section 115H Of Income Tax Act: Benefits & Provisions
    4. Reading Time: 8 mins
    Categories
    • NRI Income Tax & Compliance
    • PAN Card
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    • US Tax Forms
    • NRI Returning to India
    • Investment & Financial Planning
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    Frequently Asked Questions

    No matter what your source of income is, we've got you covered. There’s a plan for everybody!

    Section 115H of the Income Tax Act allows non-resident taxpayers to constantly enjoy the privileges of tax concession in the subsequent year after becoming a resident Indian. If the NRIs timely fulfill their income tax returns, they can continue to enjoy the tax benefits under this section as they previously were NRIs.

    Income generated from foreign exchange assets is the income that qualifies under section 115H. As per section 115H, non-resident Indians can enjoy a 20% tax rate concession on investment income from foreign exchange assets.

    Under section 115H of the Income Tax Act, non-resident Indians can enjoy a 20% concession tax rate on investment income generated from foreign exchange assets. This section provides concessional tax benefits to NRIs on income generated from foreign exchange assets.

    One can enjoy the concessional tax rates under section 115H of the Income Tax Act till the foreign exchange assets of non-resident Indians are converted into money. This allows NRIs to receive favourable tax treatment over the whole holding period of their investment.

    No, section 115H of the Income Tax Act is not automatically applicable to non-resident Indians. You must file your income tax return under section 139 and submit a written statement to the assessing officer declaring your willingness to continue under Chapter XII-A.

    Yes, section 115H applies to dividend income. As of 1 April 2021, dividend income was included in the specified assets, allowing it to qualify for tax rate concessions under this act.

    Yes, NRIs in France can apply online through Protean (formerly NSDL) or UTIITSL.

    Passport, identity proof, date of birth proof, French address proof, photographs, and OCI/PIO card if applicable.

    ₹1,011–₹1,017 for physical PAN; e-PAN costs ₹66–₹72 less.

    15–20 working days for physical PAN; e-PAN in 2–5 working days.

    Use reliable services like DHL, FedEx, or UPS.

    Apply through the “Changes or Corrections in PAN Data” form on Protean.

    No, a French address can be used as the communication address.

    Yes, professional assistance is recommended for NRIs.

    Both NRIs and OCIs can apply.

    Ensure details match documents, avoid initials, submit valid proofs, and use the correct form.