Filing of Income Tax return - Reg.

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A query regarding an Indian daughter living abroad who has fixed deposits earning less than £2 lakhs annually. The user seeks advice on whether she is liable for tax on this interest, the tax rate if applicable, and if she can file her income tax return upon returning to India. The response clarifies that filing is required if aggregate income exceeds £2.50 lakhs, or voluntarily to claim TDS refunds, and that returns can be filed online from anywhere.

vasudevan v

vasudevan v (Querist)
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19 July 2023 Respected Experts, My daughter left to foreign country after marriage. While she was in India, she was working and filed Income Tax return regularly, although she is not subjected for any tax. Now she is in foreign country as house wife for the past two years. She has some Fixed Deposit account which earns interest less than 2 lakhs per year. She has not filed her income tax return for the past two years due to her absence in India. Whether any tax is liable for her Fixed Deposit interest? If so, what is the rate of tax? If not, whether she can file her income tax return after her return to India? Whether she is liable for any penalty for the belated filing of tax return? She retains her Indian citizenship and she is holding only Indian passport. I shall be much grateful for your esteemed advice. Thanks in anticipation.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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19 July 2023 1. If her aggregate income in India, including interest income over FD exceeds Rs. 2.50 lakhs, she need to file her ITR.
2. Even if the income is below exemption limit, but to claim refund of TDS deducted, she can voluntarily file return.
3. She can file return online, from wherever she is, as return filing is internet based.

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vasudevan v

vasudevan v (Querist)
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19 July 2023 Much obliged sir. Thank you very much.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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19 July 2023 You are welcome.

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