Sindhuja Sivaraman (Student) (115 Points)
26 February 2023Hello all!
My uncle is a Non-Resident in 2018-19.
He has transferred Rs.10 lacs from his NRE Bank account for the payment towards the LIC Premium.
He is resident in India from 2021 onwards.
Is he required to Pay tax for the abovesaid transaction and file Income tax return for 2018-19?
Please solve this.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 26 February 2023
No. Not for the transaction of 2018-19, as he remains NRI for the relevant year.
Sindhuja Sivaraman
(Student)
(115 Points)
Replied 26 February 2023
Thank you for your reply, sir!
Yesterday, he received a notice from IT Department stating that,
His transaction in 2018-19 is Rs.10 Lacs and the reason for non-filing of IT Return for the year 2018-19.
As he is a non-resident for the year 2018--19, he is not required to file ITR.
Is it sufficient to reply to IT Department regarding his Residential Status?
Please reply.
sabyasachi mukherjee
(27574 Points)
Replied 26 February 2023
Sindhuja Sivaraman
(Student)
(115 Points)
Replied 26 February 2023
Hello mam
Thank you for your reply.
He is just paid premium towards his policy
This is not yet matured.
Then it is not taxable income right?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 26 February 2023
Not just being nonresident, but if the premium was paid through NRE account, which should have been remitted from out of India, As such the amount would not be taxable in India. If your income earned/accrued in India (for AY 2018-19) be below exemption limit, there was no need to file ITR.
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