India: Learn
Glossary, concepts and worked examples.
Customs duty-free baggage allowance (Baggage Rules 2026)
From 2 February 2026, residents and Indian-origin tourists flying into India can bring goods worth up to ₹75,000 duty-free. Foreign tourists get ₹25,000. Jewellery limits now go by weight: 40 g for women, 20 g for others.
✓ VerifiedLast verified:Sending money abroad: LRS limit and TCS from 1 April 2026
Resident individuals can send up to USD 2,50,000 abroad each financial year under the Liberalised Remittance Scheme. From 1 April 2026, TCS is 2% for education or medical and 20% for other purposes, on amounts above ₹10 lakh.
✓ VerifiedLast verified:Indian tax glossary
Plain-English meanings of common Indian tax words, from AIS and assessment year to TDS, TAN, GSTIN, input tax credit and the new tax year, with links to the full guides.
✓ VerifiedLast verified:NRE, NRO and FCNR(B) accounts explained
NRIs can hold NRE (fully repatriable, tax-free interest), NRO (for Indian income, up to USD 1 million repatriable a year) and FCNR(B) foreign-currency deposit accounts. This guide also covers when to convert accounts and the property rules.
✓ VerifiedLast verified:Residential status for income tax: resident, RNOR or NRI
How the day-count tests decide whether you are resident, not ordinarily resident or non-resident in India, and why it changes what income is taxed.
✓ VerifiedLast verified:Small savings schemes: PPF, SSY, SCSS, NSC and more
The government resets interest rates on PPF, Sukanya Samriddhi, SCSS, NSC, Kisan Vikas Patra and post office deposits every quarter. Rates for October–December 2026 are unchanged from the quarters before.
! Needs reviewLast verified: