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Why NRI need to file Income tax return in India

Seven Points for Income tax filling by NRI

Posted By admin on December 25, 2013 No Comments

Attention for Non Resident Indian or OCB regarding their income tax impact for transaction relating to Bank Interest, Royalty Income, Capital Gain and other income accrued in India

Please note that you must need to file your Income Tax Return in India by 31 July 2011. Please note that This Income Tax Return need to be submitted for the transaction executed between 01 April 2010 to 31st March 2011

Please find below the example of some cases where u need to submit

  1. Interest Income generated from Bank Account based in India
  2. Rental Income earned by the NRI during the relevant Financial Year.
  3. If you have earned Capital Gains income accruing through real estate, stock market & other investments or any other capital assets
  4. Income tax in India stipulates withholding taxes on certain kind of payment. Taxes are with-held in excess of Income offered to tax.
  5. To claim double taxation treaty benefits in countries like (Hongkong, Canada,US, UK, etc).
  6. To become tax compliant as per Indian tax laws.
  7. Get TDS refunds & other exemptions.

Contact at info@mcaindia.co.in for more details

Listing of Advantages of Filling Taxes in India

  1. Income tax Act Prescribe filling of Income tax Return if your gross income exceeds stipulated amount. Failure to do the same attracts penalty
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