When Should An NRI File Income Tax Returns In India ? By CA Sriram Rao

Wonderful presentation by Dr. C. Bhat and CA Sriram Rao. This technical information will help many NRI's.

Excellent explanation, thank YOU both Sirs! 🙏🙏

What about pensioners?

I have income above 3 lakhs in india for fy 202-23 and i have stayed full year in us for 2022-23. Do i need to file the return and also do i need to disclose US salary income

Good clarity with examples well explained.

I like your video very much. I have a question. I worked in India with a company in India for 9 years. I have filed taxes all these years. In 23-24 I will be an NRO. I have a lot of investments inFD and equities . Can I transfer these savings to NRO account and repatriate that money to USA. Regards, R. Acharya

Thanks, wished I had known about the channel previously. a couple of question if you can guide: 1. if invested in NRO mutual funds/stocks through NRO- can we repatriate the profit from NRO after showing that we paid tax (TDS already) and repatriate money. 2. Derivatives profit (future and options): can we repatriate? somehwere read that we can not but it was no clear and said we can repatriate principal amount (which is the one I remitted to india demat account to invest in derivatives). Thanks

Question: NRI has agriculture land, the NRIs swap land for residential property value being equal and hold it for 1 year and then sell the residential property. Can NRI take the money from sale of property after holding for 1 year out of India?

Hi sir,
Very Fentastic and crystal clear your explanation... 🎉

I have a question if you could reply much appreciated. If NRI person or NRI income of salary should we can invest in indian share market which the demat ac type of Resident Indian. Is it allowed or not allowed. Should can be exception for tax filing (No other income from Indiav) except from stock market or bond market profit...

What if an NRI want to file tax returns in India also irrespective of income in India? Is that advisable?

Sir if I am living outside India and holding an NRE account in India, how much money I can deposit into that NRE account annually without filing an ITR in india?

Pension income in India is taxable? For nri

Really helpful..Thanks a lot Sir!!!

These facts like deposit of more than 1cr in a current a/c , electricity bill pymt of more than 100000/- also applies to resident Indians.

Sir, please summarise after every episode.
Regards

I am an American citizen of Indian origin living in US. Recently getting some inheritance money from India.
Will I have to pay any tax in India to repatriate that money to US.
How will I be able to transfer money from India to US. Should I open NRO account or NRE account?
Any body has any idea, please write

Kindly clarify for OIC/PIO who is not a citizen of India but has income and property in India. Thanks to clarify in this session

what about capital gains tax when invested from NRE in to a MF or. stock?

Interested to know about taxation for NRI India switch over to NRI USA citizenship particular to NRO account

What is NRI invest in real estate with foreign exchange. And get income out of that then should be require to file IT return? Or is it taxable?

I am an NRI I am doing some work outside India, but made the charged recd in India in my husbands name.. the work is done outside India to a client outside India. only the money is being recd in India.? is it Taxable in my name or in my husbands name, who is is a Resident.. ?? is that exempted from tax since it is 100% overseas proceeds. so he has to show the income as exempted income in his tax return.?? pl clarify..

Do I need to fill Schedule FSI and TR in ITR-2 if I am a resident Indian who received foreign salary in India from a remote job in the U.S.A. but no tax was deducted in foreign and is also NOT claiming DTAA tax relief because no tax paid in U.S.A.?

Please advise.

Thank you.

Great Content!

Can you please suggest about double taxation concept. If a person stayed here from Dec. Total number of stay during FY is less than 180 days. And employer taxed in one in both the countries. Can we submit exemption for amount that he earned in foreign.

Lot of NRIs sell property in India but don't show they are NRI. Country like Canada allows parents, grandparents to stay in Canada up to 7 years on super visa but they are not permanent residents. Are they still Indian citizens to file returns as Indian residents with Aadhaar card. How to handle these type of people who live abroad more than 6 months on tourist visa.

Can NRI file his tax return from his country of residence? If yes, how. Or NRI has to use services of an accountant in India. Also, is it necessary to have a local India phone number to get OTP as IT dept. Do not send OTP to mobiles of other countries

Sir, My daughter is a NRI OCI holder recd 2.5 L gift from non relative , should she file tax?

What a wonderful team! All aspects relating to the topic has been explained well and in simple terms. Thanks!

I am your big fan and see all your videos. Still being a layman from tax viewpoint I carry many inhibitions as regards my Tax Liability in USA, particularly as regards my Indian income.

I have recently started a job in USA after doing my MBA from USA.

Before coming to USA, I had invested in FDs and shares in India and am earning interest and dividend, which is around 3 Lakh. Every year I deposite Rs 1.2 Lakh in ELLS.

TDS has been deducted from dividend and after filing ITR can I claim TDS as my total income is less than 2.5 lakh after tax saving investments.

Shall Tax Authorities compell me to show Indian incomes while filing ITR in USA or not? Also, if Income Tax had already been deducted, shall I be getting some benefit in USA? What is too be shown to USA tax authorities.

Kindly reply in very simple terms.

I file ITR in India.

Regards

Thanks a lot Sir, this interview washout my all doubts ..super..

I am surprised that example of TDS of 30% on 1 lakh interest is mentioned...for non-mandatory filing of return. Actually it would be mandatory because TDS is more than Rs. 25000.

is there any seperate aadhar card for NRI ? I have one Aadhar card from India, and I am an NRI but my auditors is asking me to take a new aadhar card for NRI ? I am confused please advise is this correct

What if I am filing my tax returns in the US, declaring my Indian income in the US and paying tax there? Do I still need to file taxes in India ?

Thank you for your excellent videos. Could you comment on joint accounts held by NRI and resident Indian. Thanks

For NRI's tax is deducted at source on Shares Capital Gain. Where is this captured in ITax return or is it automatically adjusted linking to PAN and refunded if that is the case. Thanks for your very detailed informative videos.

Good. Thanq.

Sir, please make a video for businessman (particularly proprietor) who has existing business and India and moves abordas to become NRI. (1) Can he continue running his business? (2) what are the main laws governing income repatriation and fresh investment? Thank you!

Such nice presentation 👏🏽thankyou Dr bhat

Hi please guide while filling tax in india do I need to declare my Income or salary earning out of India.
I want to file tax regularly tax in india because I am having share trading income in india.

Hello Sir, Is there anyway we can file for return for TDS U/S 195?

Sir, very useful video indeed! Thankyou🙏. A question: RNOR is a category to ease transition of NRI to a resident in India. Is there anything special for facilitating the reverse ie from resident to NRI?🙏💐

It was very informative session sir. One more query. If any NRI is paying EMI for a property in India from Indian Bank account, is the amount of interest paid is exempted from tax or not? Thank you for the response.

Excellent information Sir 👍

I did not understand 2.5 lakh criteria, If income is less than 2.5 lakhs then No need to file tax return in India?

One of the main question is not discussed, if an NRI moves his money from NRE to NRO account, then do they need to pay tax on that in India?

I am and NRI. I file my tax returns. I have been getting back my tax refund directly into my NRO account. Please advise if its possible get the tax refund directly inio my NRE account. If so, how should i preceed.

very useful talk on filing tax return for NRI. Very clearly explained. Thank you.

Can a NRI continue his/her PPF, Recurring deposits, EMI for loans which had been initiated before leaving country. How it can be managed without having a savings account in india.

If a resident goes on tourist for more than 182 days then he will be treated as NRI or resident .