NRI, to file Income Tax return.
Any Income which accrue or arise in India, will be taxable in India. Income
from Bank Interest, Fixed deposit Interest, Share transaction Profilt / Loss, Investment
Mutual Funds, Bonds, Sale of Property or Income of rent from property in India.
Income tax Return of NRI
File the income tax
return in the following case.
1) Your taxable income in India
during the year was above the basic exemption limit of Rs 2.5 lakh
OR
2) You have earned short-term
or long-term capital gains from sale of any investments or assets, even if the gains are less than the basic
exemption limit. (like Shares, mutual funds, property etc) OR
3) If you need to claim Refund for TDS deducted more than actual tax
laibility OR
4) If you have Income from
House property & claiming Interest oh Home Loan and there is a Loss from
“Income under House Property” and you need to adjust this loss against other
income or carry forward.
Not to Claim exemption of age limit/ short term or long term capital
gain.
·
NRIs do not get the benefit of
differential exemption limits on basis of age or gender that is available to
Resident Indians. The enhanced exemption limit for senior citizens and women is
applicable only to residents and not to non-residents.
·
For NRIs, certain short term or
long term capital gains from sale of investments or assets are taxed even if
the total income is below the basic exemption limit.
By filing tax return
can claim TDS and get refund :
·
1) If TDS is Deducted – If your have investment income (interest) and/or
capital gains income and if tax has been deducted at source from such income,
you do not have to file your tax returns.
·
if the TDS is deducted more than actual
tax liability, then you need to file IT return & claim Tax refund.
Benefit
of investment U/s 80C,80D etc
NRIs
can save Tax on Income generated in India
·
by investing in eligible
investments under 80C (limit Rs 1.5 Lacs)
·
by taking health insurance
policy in India for themselves, their family and dependent parents , and claim
deduction up to 35,000 for the annual premium paid.(Section 80D)
by investment in Capital
gains Bonds (NHAI or REC) to save capital gain tax on propertyFILE YOUR RETURN BEFORE DUE DATE 31ST JULY
CLICK HERE TO FILE
