File income tax as nri for first time?
This query is : Resolved
22 June 2018
I moved to another country in end of 2016. And FY 2017-18 will be my first year when I am filing Income tax as NRI.
I have income in india from Bank/FD Interest as well as some in Stocks. I need to file ITR 2 (correct me if i am wrong) .
Here is my question:
I have been transferring my savings to India from foreign country on a regular basis and investing it in India.
In my ITR 2 form, Is there ANYTHING I need to mention about my foreign income anywhere.
I have already paid taxes in the host country. Has there been any rule change recently which require me to do it?
I have income in india from Bank/FD Interest as well as some in Stocks. I need to file ITR 2 (correct me if i am wrong) .
Here is my question:
I have been transferring my savings to India from foreign country on a regular basis and investing it in India.
In my ITR 2 form, Is there ANYTHING I need to mention about my foreign income anywhere.
I have already paid taxes in the host country. Has there been any rule change recently which require me to do it?
22 June 2018
1.yes you need to file ITR_2
2. no need to report amounts or source of foreign income
3. you need to work out the DTAA benefits in the country of tax residency
2. no need to report amounts or source of foreign income
3. you need to work out the DTAA benefits in the country of tax residency
13 August 2018
@Nikhil Could you please explain your 3rd point? What do you mean by "you need to work out the DTAA benefits in the country of tax residency" ??
13 August 2018
that you will claim the benefits of taxes paid in the country of residency. If you a NRI for Indian tax purposes, then you need to avail the credit for "taxes paid in India" in the country of tax residency.
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