For determining whether HUF is a Resident or not, the residential status of its 'Karta' for the relevant previous year is of no relevance.

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Yes, NRI can Invest in ELSS Mutual Fund to get eligible for Sec 80C deductions of Rs 1.5 Lakhs.

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i.  Life insurance premium payment.

ii. Children’s tuition fee payment.

iii. Principal repayments on loan to purchase house property.

iv. Unit-Linked Insurance Plan (ULIP).

v. Investments in ELSS

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i.  Investment in Public Provident Fund (PPF).

ii. Investments in National Savings Certificates (NSCs)

iii. Post office 5-year deposit scheme.

iv. Senior Citizen Savings Scheme (SCSS)

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Interest earned in NRE & FCNR A/c is tax free but interest in NRO A/c is fully taxable in India.

Interest in NRO A/c is subject to TDS without any threshold limit.

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NRIs are people who are Indian citizens but residing abroad.

On the other hand, PIOs are people who are foreign citizens(Other than Bangladesh or Pakistan) but once held an Indian passport. If they were born abroad to Indian parents or parents who once held an Indian passport, they would qualify for PIO status, but not for NRI status.

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An Individual is said to be Resident in India in any previous Year if he satisfies any one of the following basic conditions.

Basic Conditions:

A. He was in India in the previous year for a period of 182 days or more.

B. Stays in India for at least 365 days during 4 preceding years and 60 days or more in the relevant financial year.

Beside the basic conditions there are two additional conditions.

Additional Conditions:

1. He has been Resident in India for at least two out of the ten previous years preceding the relevant previous year.
2. He has been in India for at least 730 days in all during the seven previous years preceding the relevant previous year

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If an Individual satisfies any one basic condition for being resident but does not satisfy two additional conditions, he is said to be Not-Ordinary Resident.

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If the Individual does not satisfy none of the Basic conditions to become Resident he is said to be Non Resident Indian. Additional conditions are irrelevant.

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An Indian Citizen, who is not liable to pay tax in any other country by reason of his domicile or residence and total income exceeding 15lakh other than foreign income shall be deemed to be Resident of India.

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