Vunu (Developer) (135 Points)
16 April 2018Which ITR form is to be used by NRI? (Just TDS refund from FDs). In few websites I found that NRI should compulsorily file ITR2 even for claiming TDS refund on NRO account. Is any particular Section present in IT Act?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183108 Points)
Replied 16 April 2018
" I found that NRI should compulsorily file ITR2 even for claiming TDS refund on NRO account. Is any particular Section present in IT Act? "
YES.......
Extract from the norification 16 of CBDT dated 03.04.2018
(As amended to notification21_2017 )
".........In the Income-tax rules, 1962 (hereinafter referred to as the principal rules), in rule 12,−
(a) in sub-rule (1),-
(I) for the figures “2017”, the figures “2018” shall be substituted;
(II) in clause (a),― (i) for the words “an individual”, the words “an individual who is a resident other than not ordinarily resident and” shall be substituted;.......... "
(ii) in sub-clause (ii), after the words “brought forward loss”, the words “or loss to be carried forward” shall be inserted;
(iii) in the proviso, for item (I), the following shall be substituted, namely:- “(I) has assets (including financial interest in any entity) located outside India;
(IA) has signing authority in any account located outside India;
(IB) has income from any source outside India;
(IC) has income to be apportioned in accordance with provisions of section 5A;”; ...........
" .........Provided that the provisions of this clause shall not apply to a person who,—
(I) is a resident, other than not ordinarily resident in India within the meaning of sub-section (6) of section 6 and has,—
(i) assets (including financial interest in any entity) located outside India; or
(ii) signing authority in any account located outside India; or
(iii) income from any source outside India;
(II) has claimed any relief of tax under section 90 or 90A or deduction of tax under section 91; or
(III) has agricultural income, exceeding five thousand rupees;.........."
Vunu
(Developer)
(135 Points)
Replied 16 April 2018
Thank you Dhirajlal-ji.
Please also help me in below query
https://www.caclubindia.com/forum/whether-advance-tax-compulsory--455478.asp?offset=2
CAclubindia
