Does A Nonincome NRI Requires To File ITR and How To File Income Tax Return?

Although the non- residents Indians (NRI) source of income depends on their living and earning, however, holding the nationality of the country, such NRIs are obligated to pay and file their tax returns in India. The deadline for them is the same August 31 like for all the other citizens of the country.

The most important fact over here is that a person needs to be ascertained about their residential status of whether they are a resident or not. For people who have long lived outside the country might not worry about this, but for people who have come back to India after living a long time abroad or have moved outside the country recently have to clarify their residential status. For a non-residential Indian, a person who has not lived in Indian form more than 182 days is considered to be one and does not need to file the Income tax return.

The taxable income for NRIs for which they file the Income tax return

The following include points when NRIs pay income tax:

  • the salary income earned in India
  • from rental income from property own in India
  • capital gains
  • interest income
  • sale of securities and assets in India

When does ITR filing become mandatory for NRIs and how to file an ITR return?

The ITR filing becomes important when the source of all incomes claimed in India exceeds the tax exemption limit of 2.5 lakhs. Other cases include if you have an STCG/LTCG on the sale of investments or assets, claim any refund or if you want to carry forward any losses. A non-income NRI does not have to file any ITR since they do not exceed more than the taxable income.

The ITR filled by the NRI is the assessment year 2019-2020 is the ITR-2 or ITR-3. The due date for filing the ITR is the same of residents and non-residents and that is 31st of August of the assessment year in similar ways of the residents. Clear a login id and password and then file your online ITR along with the Digital signature certificate (DSC).