Tax Filing in Delhi for NRI

 If you are a non-resident Indian who has lost contact with your birthplace but still receives money from your land or property back home, you must file an income tax return in conjunction with your visits back home. Revenue earned and received in a foreign nation, as well as money remitted back, cannot be taxed if you are a non-resident Indian. However, if your profits in India (in the form of interest from savings accounts, fixed deposits, or leasing income) exceed Rs. 2,50,000, you must file your taxes online. NRI tax filing in India is crucial since it establishes your residency status and determines whether you are required to file an income tax return in India. As a result, your residential status is determined by the number of days you spent in India within a given financial year.  All of your questions have been answered to the best of our ability. Learn everything you need to know about NRI tax filing in India.  Important Details And Clauses About Tax Filing Does an NRI need to file income tax returns in India? NRI or not, any person whose earnings exceeds Rs.2, 50,000 is obliged to file an income tax return in India.  However, make a note that NRIs are only taxable for revenues collected in India.  Is the income earned abroad taxable?  In India, an NRI's income tax is determined by his residency status for the year. If you have a 'NRI' status, all of your income generated or accumulated in India is taxed in India. Revenue earned or accumulated in India includes income acquired in India or earnings for services rendered in India, revenue from a property located in India, capital gains on the sale of an asset based in India, interest on a savings bank account, and earnings from fixed deposits. For an NRI, these profits are taxable. Earnings earned outside of India or in another country are not taxable in India. The interest earned on an NRE or FCNR account is tax-free. NRO, on the other hand, has a high rate of interest.  When is an NRI supposed to file his return of income in India? Similar to any other individual taxpayer, an NRI should file his return of income in India if his total gross income received in India goes beyond Rs 2.5 Lakhs for any financial year. Moreover, the due date for filing income tax return for an NRI is 31 July of the assessment year.    

As an NRI (Non-Resident Indian), if you have income originating from India, you may be required to file income tax returns in India. Here are the steps you need to follow to file income tax returns from Delhi as an NRI:

Determine your residential status: As an NRI, you will be considered a resident in India only if you have stayed in India for 182 days or more in a financial year or if you have stayed in India for 60 days or more in a financial year and 365 days or more in the preceding four financial years. If you do not meet these criteria, you will be treated as an NRI for income tax purposes.

Obtain a PAN card: If you do not have a PAN card, you will need to apply for one. You can apply for a PAN card online through the NSDL or UTIITSL websites.

Gather all required documents: You will need to gather all the necessary documents, such as your Form 16, bank statements, investment documents, and other income-related documents, to file your income tax returns.

File your returns: You can file your returns online through the Income Tax Department's e-filing portal. You will need to register on the portal and follow the instructions to file your returns.

Pay any taxes due: If you have any tax due, you can pay it online through the Income Tax Department's website or through authorized banks.

Verify your returns: After filing your returns, you will need to verify them. You can verify your returns online through the Income Tax Department's e-verification portal or by sending a signed physical copy of the ITR-V to the Income Tax Department.

It's important to note that the due date for filing income tax returns in India for NRIs is July 31st of the assessment year. If you miss this deadline, you may be subject to penalties and interest.

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