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Income Tax Returns For NRI

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Income tax return form

details of income earned and deductions claimed under Chapter VI-A. are filled with the help the Form 16/16A and Form 26AS. any other income or investment eligible for deduction also to be reported which was not reported to the employer/goverment

Calculation of tax liability

The return form shows any tax payable, should be deposited and the challan details are entered in the return form.

Submit the income tax return

ITR filled should be duly signed and sent by ordinary post or speed post to 'Income Tax Department

Documents Required For Income Tax Returns for NRI

  • Copy of PAN
  • Statements of all bank accounts in India (including Joint Accounts)
  • Form 16 / Pension Certificate received
  • Form 16A received from Bank against TDS on Fixed deposits
  • Details of Investments made / Mediclaim (To claim Deduction or to lessen your tax burden
  • Details of Other Income Earned in India
  • Details of Capital Gain (if you have purchased / sold an Indian Property)

Process Involved

  • STEP-1

Documentation

Documents are provided by the client

  • STEP-2

Computation of Income

Based on above documents Income is calculated and sent to client for confirmation

  • STEP-3

Calculation of Tax Payable

Tax payable is calculated based on Income and send to client for payment

  • STEP-4

Payment of Tax

Computation of Tax is sent to client and informed for payment

  • STEP-5

Preparation of Return

Income Tax Return is prepared and tax details are feeded

  • STEP-6

Submission of Return

Prepared income tax return is uploaded to income tax portal using clients id and password

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FAQs

The return of income can be filed with the Income-tax Department in any of the following modes (*): - • By furnishing the return in a paper form. • By furnishing the return electronically under digital signature, i.e., e-filing with digital signature.

Return of income only electronically filed at www.incometax.gov.in

In case of queries on e-filing of return, the taxpayer can contact us at 8882101000

Yes, provided the original return has been filed before the due date and the Department has not completed the assessment. It is expected that the mistake in the original return is of a genuine and bona fide nature and not rectification of any deliberate mistake. However, a belated return (being a return filed after the due date) cannot be revised.

Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated return can be filed within a period of one year from the end of the assessment year or before completion of the assessment, whichever is earlier. Return filed after the prescribed due date is called as a belated return.

Filing of return is your duty and earns for you the dignity of consciously contributing to the development of the nation. Apart from this, your income-tax returns validate your credit worthiness before financial institutions and make it possible for you to access many financial benefits such as bank credits, etc.

-filing of return with digital signature is mandatory for: (a) Every company; (b) A firm or an individual or HUF who are required to get their accounts audited under section 44AB; (c) A Political Party [it its income exceeds the limit, without claiming exemptions under Section 13A, which is not chargeable to tax]

It can be found either on the Form 16/16A or in the 26AS tax credit statement available on https://eportal.incometax.gov.in/iec/foservices/#/pre-login/knowYourTAN Income Tax website.

click on Services>Know your AO given on the home page of www.incometax.gov.in or use the following link https://eportal.incometax.gov.in/iec/foservices/#/pre-login/knowYourAO to know your jurisdictional Assessing officer

No, all salaried taxpayers can’t choose ITR-1 for filing tax returns from Assessment Year 2013-14 onwards. They can choose ITR-1 only if they are claiming exemption under sec. 10 (e.g. HRA, Conveyance allowance, etc.) up to Rs 5,000 or less. So, if taxpayer is claiming any exemption under sec. 10 which exceeds Rs. 5,000, he cannot file return of income in ITR-1 (As per amended Rule 12 of income-tax rules).

Yes, only 5 returns can be filed using the same email-id or same mobile number.

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