Property in India
A house, flat or land in India counts in your Box 3 wealth at its value on 1 January. Under the treaty India may tax that property, and the Netherlands exempts the share of Box 3 tax that falls on it.
So you usually pay no Dutch tax on it, but you still have to declare it. It also counts when the tax-free allowance is spread over your assets, so your other wealth can be taxed slightly more.
Bank accounts and investments in India
Savings, deposits, shares and funds in India stay taxable in Dutch Box 3, just like assets here. The Netherlands is your country of residence and keeps the right to tax them.
If India withheld tax on interest or dividends, it's credited against the Dutch tax on that slice, up to that Dutch tax and the rate the treaty allows.
Converting and declaring
Convert amounts to euros at the exchange rate on 1 January of the tax year. Keep a year-end statement from the bank or broker and a valuation of any property.
Many countries automatically share account information with the Belastingdienst. If you left foreign assets out in earlier years, correcting it voluntarily usually means a lower fine than if the Belastingdienst finds it first.
Money from family in India
Gifts from parents or relatives living in India are not subject to Dutch gift tax, unless the giver is a Dutch national who left the Netherlands less than 10 years ago. From the next 1 January the money does count in your Box 3.
What India itself taxes
- Rent from a flat or house in India is taxed in India as a non-resident (NRI), and the tenant may have to deduct TDS from the rent. Municipal property tax stays payable to the local authority.
- When you sell Indian property as an NRI, the buyer deducts TDS on the sale and capital gains tax is settled in India. The Netherlands does not tax the gain: Box 3 only looks at the value on 1 January.
Your accounts and products in India
- NRE deposits are tax-free in India, so there is no Indian tax to credit: the Dutch Box 3 tax on them is due in full. NRO interest has TDS withheld, which can be credited up to the treaty rate.
- A PPF account you opened before you left, an EPF balance and Indian mutual funds or shares all count in Box 3 at their 1 January value, converted to euros. Gold you hold counts too.
Common situations
- Inheriting from parents who lived in India: there is no Dutch inheritance tax when the person who died lived abroad (unless they were a Dutch national who left the Netherlands less than 10 years before). What you inherit counts in your Box 3 from the next 1 January.
- Sending money home to support parents is not deductible in the Netherlands, and it is not a taxable gift for them in India when given to a relative.
Worked example (2026)
You live in the Netherlands, single, with € 40.000 in a Dutch savings account. In India you own a home in Pune worth € 90.000 and € 25.000 in NRE deposits.
The home still raises the tax a little: it counts when the tax-free allowance is spread over everything you own. The tax India levies on the home itself comes on top. Sources: belastingdienst.nl, incometax.gov.in.
Specific to India
- NRE and NRO accounts and fixed deposits count as savings in Box 3; Indian mutual funds and shares count as investments. Use their value on 1 January, converted to euros.
- TDS withheld on NRO interest or dividends can be credited against the Dutch tax on those assets, but only up to the rate the treaty allows. Anything withheld above that has to be reclaimed in India.
- Property in India is declared in Box 3 but its share of the tax is exempted under the treaty, including a flat or plot you own jointly with family (enter only your share).
Keep calculating
General information based on Dutch treaty practice for Box 3. Your own situation may differ; have foreign assets checked by an adviser if in doubt.