NRI STATUS
This query is : Resolved
12 January 2020
WHO DOES PROVIDE PROFESSIONAL NRI
DECLARATION SERVICE IN HYDERABAD INDIA.
DECLARATION SERVICE IN HYDERABAD INDIA.
13 January 2020
Can you please elaborate your query?
13 January 2020
After doing some search on the net I have concluded that no specific procedure exists to declare NRI status.Only filing Return as NRI suffices.to let the IT dept. to know that I am a NRI.
I hope I am right. Please confirm . If accordingly, I file a return as NRI in coming April '20 for FY 19-20, and declare few thousands interest that i received in April 19 as income on FDs .But I do not know what happens to the principle amount which got deposited in my Indian savings account and i withdrew this money for my marriage expenses in April itself. I do not have NRO account as yet. I am now applying for conversion of the same account to NRO account. 1. Whether this principal of FD credited in this account in April 2019 which I withdrew immediately will be questionable by IT authorities?. I will be filing as NRI 1st time coming April .Need your advice and comments.
2. whether 365 days is the total stay period in preceding 4 years or is it single stay of 365 days in the preceding 4 years?
I hope I am right. Please confirm . If accordingly, I file a return as NRI in coming April '20 for FY 19-20, and declare few thousands interest that i received in April 19 as income on FDs .But I do not know what happens to the principle amount which got deposited in my Indian savings account and i withdrew this money for my marriage expenses in April itself. I do not have NRO account as yet. I am now applying for conversion of the same account to NRO account. 1. Whether this principal of FD credited in this account in April 2019 which I withdrew immediately will be questionable by IT authorities?. I will be filing as NRI 1st time coming April .Need your advice and comments.
2. whether 365 days is the total stay period in preceding 4 years or is it single stay of 365 days in the preceding 4 years?
13 January 2020
Yes you are right.
1 Not questioned by IT authority only cash deposit above 10 lacs will be questioned.
2 In case of employment 182 days stay outside India is considered as non resident.
1 Not questioned by IT authority only cash deposit above 10 lacs will be questioned.
2 In case of employment 182 days stay outside India is considered as non resident.
13 January 2020
IT department has a right to question you for any transaction. You just need to justify the transaction. If you were outside India on employment and your period of stay in India was less than 182 days in a financial year, then you will be considered as Non Resident.
13 January 2020
Thanks. Do I need a CA to do the filing. I was doing the filing till last year. I find it comfortable with not much Indian income. In case justification required . Can I ask my father to attend the IT office to give a justification or can it be given on a email. Please reply. what are the charges of CA for this ? Thanks in advance
13 January 2020
Not required file ITR yourself. Email reply allowed no need to meet any official.
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13 January 2020
My opinion: One should always avail professional's services to comply with statutory compliances
13 January 2020
Can you suggest professionals in Hyderabad? Whst about fees ?
13 January 2020
I know someone who charges exorbitant fees. So I disconnected him
14 January 2020
Contact Vinay Reddy 75699 89230
16 January 2020
You can contact us as well, if you desire. we have our office at Hyderabad
24 July 2020
I have found my prevous F Ys years form 26 AS updated with adding "section E" wherein some very high figures > 10L is shown by Bank/s. what are these figures. what do they indicate and what should be done about it by a tax payer. The figure obviouly is a cumulative figure of bank transactions. But unclear as to which particular transactions. one more column says mix or cash. please explain in details so it could be shared amongst my friends and well wishers. Also it will help the general public qat large. Thanks in Advance.
25 July 2020
https://www.taxcorner.co.in/2020/06/section-285ba-and-rule-114e-on-sft-in-form-61a.html
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