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NRI - To file IT or Not?

Prithi (Student) (166 Points)

19 June 2010

Hi everyone,

I have a query, "There is an NRI and he is receiving Bank Interest from an Indian Bank in India, and the TDS is deducted. Sgould he file Income Tax Return in India?"

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13 Replies

Vikram Gagneja (a/c) (108 Points)
Replied 19 June 2010

yes NRI also has to file return of income which he/she earn from india

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(Guest)

yes, he has to file his roi

Satvir Singh (Newly minted CA) (1733 Points)
Replied 19 June 2010

yes, he should

Ravindra Singh (Accounts Executive) (43 Points)
Replied 19 June 2010

YES......... ! VIKRAM IS RIGHT.

Prithi (Student) (166 Points)
Replied 19 June 2010

Even if his income is below the taxable limit should the NRI file the return and if yes under what section or law?

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Aneesh (Pursuing CA) (101 Points)
Replied 19 June 2010

If the NRI's taxable income is below the taxable limit, he needn't file a return of Income. I have not come across any section in the Income Tax Act, 1961.

Please correct me if Im wrong

MANI KUMAR VEDULA (Operations Head) (49 Points)
Replied 19 June 2010

Yes.... I agree with Aneesh's explanation...

S Nayak (audit Manager) (25 Points)
Replied 19 June 2010

if NRI has no income from india, should he file return india

please reply

CA Tushar Lakhanpal (CA) (416 Points)
Replied 20 June 2010

IF NRI'S INCOME IS BELOW THE TAXABLE LIMIT AND TDS HAS BEEN DEDUCTED

he should file a return for refund..

IF NRI'S INCOME IS BELOW THE TAXABLE LIMIT AND NO TDS HAS BEEN DEDUCTED AS SUCH

then no need to file the return...

Anand (Chartred Accountant) (435 Points)
Replied 20 June 2010

Originally posted by : Tushar Lakhanpal
	IF NRI'S INCOME IS BELOW THE TAXABLE LIMIT AND TDS HAS BEEN DEDUCTED he should file a return for refund.. IF NRI'S INCOME IS BELOW THE TAXABLE LIMIT AND NO TDS HAS BEEN DEDUCTED AS SUCH then no need to file the return...

Tushar's explanation is perfect.

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Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 20 June 2010

Dear All,

NRIs are require to file Return of Income only if his his is charged with Tax i.e. Income is more than Basic Exemption Limit or his income is chargeable to special rate of tax (irrespective of Basic Exemption Limit) eg. 111A, 112, 115AC and so on.

Exception to above, If the income is from Foreign exchange asset or income falling under section 115AC and so on and tax is deducted at appropriate rate, then in that case, NRIs are not require to file ROI

Plz refer attached file for more reference.

Regards

Juzer

Attached File : 42 note on filing roi by nri.pdf downloaded: 225 times

CA Tushar Lakhanpal (CA) (416 Points)
Replied 27 June 2010

hey anand thanks mate....

Balaji (Knowledge Seeker) (317 Points)
Replied 27 June 2010

Since the total income is less than the maximum amount not chargeable to tax,would it not be sensible for the NRI to submit Form 15-G or 15-H (as the case maybe) so that NO tax is deducted at source?This way there would be no need to file a Return just to claim the refund,which may take several years to be realised.