ITR stands for Income Tax Return. NRIs (Non-Resident Indians) are generally required to file ITRs in India if their income exceeds the basic exemption limit. The specific requirements and deadlines for ITR filing by NRIs can vary depending on their type of income and residency status.
ITR stands for Income Tax Return. NRIs (Non-Resident Indians) are generally required to file ITRs in India if their income exceeds the basic exemption limit. The specific requirements and deadlines for ITR filing by NRIs can vary depending on their type of income and residency status.
Types of ITR Forms for NRIs:
ITR-2: For individuals and Hindu Undivided Families (HUFs) having income from salary, house property, capital gains, other sources, and foreign income.
ITR-3: For individuals and HUFs having income from business or profession, capital gains, other sources, and foreign income.
ITR-4: For individuals and HUFs having presumptive business income.
ITR-5: For partnerships, associations of persons (AOPs), body of individuals (BOI), and artificial juridical persons (AJPs).
ITR-6: For companies.
ITR-7: For trusts, religious institutions, and other non-profit organizations.
Income Tax Residency for NRIs:
Resident: An NRI is considered a resident if they have stayed in India for more than 182 days in the previous financial year.
Non-Resident: An NRI is considered a non-resident if they have stayed in India for less than 182 days in the previous financial year.
Income Tax Filing Requirements for NRIs:
Resident NRIs: Resident NRIs are generally required to file ITRs if their total income exceeds the basic exemption limit.
Non-Resident NRIs: Non-resident NRIs are generally required to file ITRs if their Indian income exceeds the basic exemption limit.
Income Tax Deductions and Exemptions for NRIs:
NRIs may be eligible for various income tax deductions and exemptions, such as:
Foreign Tax Credit: NRIs can claim a foreign tax credit to avoid double taxation on income earned in foreign countries.
HRA Deduction: NRIs may be eligible for the House Rent Allowance (HRA) deduction if they are renting a property in India.
Deductions for Investments: NRIs can claim deductions for investments in specified government bonds, pension plans, and other eligible instruments.
ITR Filing Deadline for NRIs:
The ITR filing deadline for NRIs is generally the same as for Indian residents. However, the due date may vary depending on the type of income and other factors.
It’s important to note that tax laws can change, and it’s advisable to consult with a tax professional or accountant for the most accurate and up-to-date information on ITR filing for NRIs.
Would you like to know more about specific ITR forms or the documentation required for ITR filing by NRIs?
Terms & Conditions
Govt fee Rs 1000 extra to be borne by the client
All tax payments and penalties if any to be borne by the client
Stamp paper and notary should be borne by the client
This pricing is applicable only if the LLP is not having any assets and liabilities.
There will be additional charges if there is BANK ACCOUNT STATEMENT transactions having above 100 entries
DINeKYC & DSC needs to be active till the e-filing status of the LLP changes to “UNDER PROCESS OF STRIKE OFF”.
Separate forms to be filed with MCA for updating of Registered Office address/mail id & and the add/remove partners (additional charges applicable).
LLPs must file FORM-3 within 30 days of incorporation. Failure to do so incurs a penalty, which must be paid before filing FORM-24 for closure of LLP with the MCA.
ITR Filing for NRIs: A Comprehensive Guide
ITR stands for Income Tax Return. NRIs (Non-Resident Indians) are generally required to file ITRs in India if their income exceeds the basic exemption limit. The specific requirements and deadlines for ITR filing by NRIs can vary depending on their type of income and residency status.
Types of ITR Forms for NRIs:
Income Tax Residency for NRIs:
Income Tax Filing Requirements for NRIs:
Income Tax Deductions and Exemptions for NRIs:
NRIs may be eligible for various income tax deductions and exemptions, such as:
ITR Filing Deadline for NRIs:
The ITR filing deadline for NRIs is generally the same as for Indian residents. However, the due date may vary depending on the type of income and other factors.
It’s important to note that tax laws can change, and it’s advisable to consult with a tax professional or accountant for the most accurate and up-to-date information on ITR filing for NRIs.
Would you like to know more about specific ITR forms or the documentation required for ITR filing by NRIs?