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About This service

A Non Resident Indian(NRI) as per India’s Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period.An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year. Stay connected to Consult MyTax to get all kinds of helps and suggestions to claim your refund from Tax Authority.TDS that may have been deducted can also be claimed as refund only if individual files Income Tax Returns within due date.

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Includes/exclude

in service

  • CA Assisted Filing of your Income Tax returns
  • Email/Skype/Calling Support
  • Includes foreign & domestic income and resulting tax liabilities
  • Handling complexities of taxation in multiple countries, availing double taxation avoidance agreements (DTAA)
  • Declaration of foreign assets for Indian residents (Schedules FA, FSI and TR in the Income Tax Return)

Whom

it’s beneficial

  • Indian citizens working on-site, at client locations outside India
  • Indian citizens who own a bank account or any other asset abroad
  • Non-resident Indians who is having business outside India or provide services outside India

Process

  • Purchase Plan
  • Provide details about the income
  • Provide Scan documents of income earned and tax deducted
  • Provide Explanation of transactions (If needed) to understand it properly
  • Get the computation of return to be filled
  • get the copy of return filed

Information/Documents

needed

  • KYC Information
  • Form 16 from your company
  • Form 26AS Tax Credit Statement
  • Bank a/c -NRE/NRO A/C statement(if any)
  • Details of any Income earned in India

Other Information

Recent rulings mandating that non-residents must file returns even if the income concerned is not taxable in India as a result of the application of a tax treaty leave no doubt that the AAR has changed its earlier, more relaxed position on this issue.
Taken together with the Government's initiative to track down non-residents that fail to comply with the tax return filing requirement, the AAR rulings clearly indicate that non-residents doing business with India and claiming non-taxability of income in India consequent to treaty relief will have to pay greater attention to their Indian filing requirements

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What are the initiatives taken by government for the tax returns of an NRI?

Alongside the change in the AAR's position with regard to the filing obligations of non-residents, the Indian government has been taking steps to target tax evasion and ensure that tax returns are filed.
the Finance Ministry issued letters to approximately 105,000 foreign companies that had not filed income tax returns. Recent press reports indicate that the ministry is in the process of issuing letters to another 70,000 companies and that a compliance management cell has been set up to follow up. This cell will track return filing and the payment of any tax due.

When NRI Income Tax Return is NOT Required?

A NRI is not required to file an income tax return in India, while having income in India, only if:
Total income in the previous year consisted only of investment income or income by way of long-term capital gains or both and tax has been deducted from such income at source.

What is the due date for NRI’s Income Return filing?

A NRI is not required to file an income tax return in India, while having income in India, only if:
Total income in the previous year consisted only of investment income or income by way of long-term capital gains or both and tax has been deducted from such income at source.

Learn about the due dates of filing Income Tax Returns : https://consultmytax.com/what-is-the-due-date-for-filing-income-tax-return/

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