India’s overseas population is the largest in the world. Most NRIs have their residential properties, investment in bank deposits/shares, and other assets in India. So, as per the Indian laws, if an NRI has any source of income in India, he/she needs to file an income tax return every year before 31st July.
Under Section 80, if an individual earns more than INR 2,50,000 then he/she is eligible to file an income tax return. Same is the case with NRIs. If you are earning more than Rs. 2,50,000 in India from your assets, you are taxable.
Here’s an infographic that can guide you with certain checkpoints from NRIs perspective, which you should consider while filing income tax return.
If you are an NRI seeking help concerning financial issues and income tax for NRIs, then get in touch with us at NRI Legal World today! We provide a free initial consultation to understand your case better and then provide you an optimal solution.
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