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If you are an NRI (Non Resident Indian), you need to file your income tax returns if you fulfill any of these conditions:

  • Your taxable income in India during the year was above the basic exemption limit, i.e. Rs. 250,000
  • 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.
  • You may also need to file a tax return if you have to claim a refund. Sometimes tax deducted at source can be more than your actual tax liability. Good news!!!!!!! Now you can get the refund into your bank directly in India hassle free.
  • Another instance is when you have a capital loss that can be set-off against capital gains. Tax may have been deducted at source on the capital gains, but you can set-off (or carry forward) capital loss against the gain and lower your actual tax liability.
  • You own two or more house properties in India, even though none of them is rented and/or there is no rental income. Income tax act only allows one house to be considered self-occupied and hence no income. Other properties are deemed rented and therefore you will have income from house property which requires you to file a return in India, if your income exceeds Rs 2,50,000.
  • You moved abroad during the financial year 2016-17 and you are an NRI for purposes of income tax for financial year 2016-17. Prior to your move, you spent a few months in India and earned salary in India, your employer has provided you a Form 16 and all taxes are duly deducted by your employer.
  • You have settled abroad and you decide to sell your only house property in India which was given to you by your parents, any capital gain on this house property is liable to be taxed and therefore a return must be filed.
  • The updated tax information/records help NRI to comply with the procedural documentation for repatriation of income & assets from India. It also helps you to have ready records as & when you returns to India.
  • In case there are any losses to be carried forward, the returns need to be filed. Without filing the returns, the losses cannot be carried forward for set-off against subsequent years incomes. Neither any refund can be claimed.

Finance Act, 2017 has made it mandatory to enroll for Aadhaar to file tax returns in India or apply for a PAN or keep the existing PAN active effective July 1. This means that NRIs will have to obtain Aadhaar number to file ITR.

The last date of filing India taxes for a non-resident Indian is 31st July 2017 (Period 1st April 2016 to 31st March 2017).

Workmytaxes offers NRIs a hassle-free experience in filing their India tax returns. If you would like to avail our services to file your India taxes, please complete the attached Client Information sheet and send it to us along with any tax documents you may have received (to indiainfo@workmytaxes.com).

If you have questions, please email us at info@workmytaxes.com. or call us at 201-484-7186 between 11:00am 2:00pm eastern Monday-Thursday.