Filing of Income Tax return - Reg.

This query is : Resolved

vasudevan v (Querist)
Follow

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)
Follow

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.

Message likes : 1 times

vasudevan v

vasudevan v (Querist)
Follow

19 July 2023 Much obliged sir. Thank you very much.

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

19 July 2023 You are welcome.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok