Income Tax Return For NRI Return Filing Filing system If you are Non-Resident Indian (NRI), the, then only those income which is earned or accrued in India is taxable under Income Tax Act,1961. Reach out to us for a hassle-free filing of Income tax Return.
What we Offer
Applylegal team provides you with team of tax experts, who will assist you in each step of
return filing process and file your income tax return. The team will be available always
through online support. Our team have expertise on national and international tax
Documents to be submitted:
1. KYC of the individual( PAN, Aadhar).
2. Form 16 from your respective Employer.
3. Form 26AS Tax Credit Statement .
4. Bank Account statement-NRE/NRO(if any).
5.Details of any income earned in India.
Why Us?
Applylegal team file your tax return just @Rs. 2950/-. Our tax team will be at your service
and you can contact them whenever you feel so and your tax filing process will be
completed within 2 days of document submission.
Fill form for NRI Return Filing

    Extra Features
    Our team of experts will not only guide you in your return filing process but also with all
    round individual Tax compliances.
    FAQs on NRIs Income Tax Return

    Yes, If your total income exceeds Rs.2.5 Lakhs Yearly then you have file income Tax Return in India. Moreover, If You have earned short-term or long-term capital gains from sale of any investments or assets, even if the gains are less than the basic exemption limit, then also you have to file Income Tax Return in India.

    July 31st is the last date for filing your Indian income tax returns for the financial year 2018-19.

    Failing to which its attracts heavy penalty under Income tax Provisions.

    As per the provisions of the Income Tax Act, you must pay advance tax in three installments during the year in case the tax payable, after adjusting TDS is likely to be Rs 10,000 or more. If advance tax payments are missed in a year than interest need to be paid for that as mentioned under Section 234B and Section 234C.

    Our Tax team at will guide you through the entire process.

    Any NRI who earn more than INR 2,50,000 in a Financial Year is liable to e-file income tax return in India.

    NRI’s need to e-file income tax returns for the following reasons:
    • To carry forward a loss.
    • The only income earned from selling an asset in a financial year where TDS has been
      deducted are not required to e-file income tax return for that year.
    • To claim a refund.

    Income generated from house property that is situated in India is taxable here. The income tax calculation rule will be followed as same as a resident’s. Whether the property is vacant or rented out, it is liable to pay income tax on that. An NRI is also entitled to claim 30% standard deduction on house property against home loan interest payment. Also, NRI’s can claim a deduction against principal repayments under section 80C which includes Stamp duty, registration charges paid to purchase a property.

    If an NRI receives rental payment from a tenant, then the tenant must deduct TDS at a rate of 30%. Whether the rent is received in NRI’s Indian or foreign account, it is subjected to cut TDS. Also, the person making the rental payments to an NRI need to submit a Form 15CA through online. In exceptional cases, Form 15CB need to be submitted taken from a CA which shows the details of payments, TDS rate, and TDS deduction. These needs to be showed as described in Section 195 of the Income Tax Act. This form will also show the details of DTAA (Double Tax Avoidance Agreement) if applicable, and other details of the payment made. Form 15CA is required when the rental payment exceed INR 50,000 (single transaction) and INR 2,50,000 per financial year. Form 15CB is not required when rental payment does not exceed the above limit and lower TDS has been deducted. In the case of lower TDS deducted, a certificate is needed to received according to the section 197 or such can be done by the order of the AO. Only if the rental payment transaction falls under the Rule 37BB of the Income Tax Act, then none of the above forms is required.
    Capital gain received on capital asset transfer based in India is tax liable in here and it also includes capital gains on share or security investments done in here. If NRI’s sell any house property in India, then buyers are entitled to deduct a TDS at 20%. NRI’s are although eligible to claim capital gain exemption against house property investments which is described under Section 54 The exemption can be also claimed against capital gains from bond investments according to section 54EC.
    Interest earned from fixed deposits and savings account held with any Indian banks are taxable in India. However, interest earned on NRE and FCNR accounts are non-taxable where interest earned on NRO account is 100% taxable.
    Investments done by NRI’s in any Indian assets is taxed at a rate of 20%. If the income is only income earned in an FY and TDS has been deducted, then it is not tax liable.
    The included assets are:
    • Deposits with Indian bank.
    • Debentures issued by a publicly-listed Indian company (not private).
    • Shares in a public or private Indian organization.
    • Any security of the Central Government.
    • Other assets of the Central Government as specified for this purpose in the official gazette.
    • Deductions under Section 80 is not allowed while calculating such investment income.

    Long-term capital gains, no deductions are allowed under Section 80 but for such
    income, the exemption can be claimed against the profit earned under Section 115F if
    profit is not reinvested back into following:

    •  NSC VI and VII issues.
    •  Shares in an Indian company.
    •  Debentures of an Indian public company.
    •  Central Government securities.
    •  Deposits with banks and Indian public companies.

    If the cost of the new asset is less than net consideration than capital gains are exempt
    proportionately from tax liability. If the new asset purchased is transferred or sold back
    within next 3 years from the purchase than the profit exemption will be added to the
    income of the year of sale / transfer.
    These benefits will be available to NRI even after the person becomes a resident and will be
    effective until the asset converts to money. Any NRI can opt out of the special provision and
    in that case, his/her income will be taxed as normal Income Tax Act provision.

    Section 54 EC
    The income from capital gains is reinvested into specific bonds then they are allowed for
    deductions.If the capital gain earned from the first property is not invested into another
    one then it can be invested into bonds for up to Rs.50 lakhs issued by National Highway
    Authority of India (NHAI) or Rural Electrification Corporation (REC).
    The homeowner can invest profits into these bonds within 6 months’  time. To be eligible
    to claim exemption, investment needs to be done before the income tax filing deadline.
    The invested money can be converted into cash after 3 years and cannot be sold before
    the 3 years lapse from the selling date.
    In such investments, the NRI must show relevant proof to the buyer so that no TDS get
    deducted on the capital gains. Excess TDS deducted can be claimed at the time of
    income tax return filing.

    Some Investments under Section 80C:

    •     Investment in PPFs.
    •  Investments in NSCs.
    •  5 Year Deposit Scheme held with Post Office.
    •  Senior Citizen Savings Scheme.
    •  Investment under RGESS under section 80CCG.
    •  Deduction for the differently-abled under section 80DD.
    •  Deduction for the differently-abled under section 80DDB.
    •  Deduction for the differently-abled under section 80U

    To avoid double taxation, NRI’s can seek relief against the Double Tax Avoidance
    Agreement (DTAA) between the two countries. Doing such will make them pay tax only
    either in the home country or in India.
    Relief can be claimed by two methods:

    Exemption method: where income is taxed only in one country and is exempted in another.
    Tax credit method: where the relief can be claimed in the country of residence.

    Interest earned from NRE account is tax exempted , whereas interest earned from NRO
    account is taxable.

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