Nri taxaion

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2013 dear all
i m a NRI salaried person. receiving salary in India in NRI a/c. and also some other sources income earned out side India is credit in nri a/c. after all i have few Indian income in form of house rent income and int.on investment. i never file income tax return in India. now i want to file return of last 2 year. please suggest me what should i do which form of itr i have to use and can i file retun of last 2 year

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2013 plz suggest me so that i can file return before ending AY.....

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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04 August 2024 If you are an NRI (Non-Resident Indian) and need to file income tax returns in India for the past two years, here's a step-by-step guide on what you need to do:

### **1. Determine Your Taxable Income in India**

**1.1. Income Sources in India:**
- **Salary:** Income earned from employment in India.
- **House Rent Income:** Rental income from property located in India.
- **Interest on Investments:** Income from savings accounts, fixed deposits, etc., in India.

**1.2. Income Sources Outside India:**
- **Salary:** Salary earned outside India is generally not taxable in India if you are a non-resident.
- **Other Income:** Income earned outside India is typically not taxable in India unless it is deemed to be received or accrued in India.

### **2. Choose the Correct ITR Form**

As an NRI with income from salary in India, house rent income, and interest from investments, you should use the following forms:

- **For ITR-1 (Sahaj):** If your total income includes salary, house property income, and other income like interest, and you have not claimed any deductions or have complex income sources. However, **ITR-1 is generally for residents**, so check if your specific situation allows you to use this form.

- **For ITR-2:** If you have more complex income sources or claim deductions under sections such as 80C (investment in life insurance, PPF, etc.), 80D (medical insurance), or have foreign income that needs to be disclosed. **ITR-2 is suitable for NRIs with income from multiple sources** including salary, house property, and other sources.

### **3. File Returns for Previous Years**

**3.1. Time Limits:**
- You can file your tax return for the last two financial years even if the deadlines have passed, as long as it is within the stipulated time frame for belated returns.

- **For the assessment year (AY) 2022-23 (Financial Year 2021-22):** The last date for filing a belated return was December 31, 2023.

- **For the assessment year (AY) 2021-22 (Financial Year 2020-21):** The last date for filing a belated return was December 31, 2022.

**Note:** These dates might vary, and penalties could apply for delayed filing.

**3.2. How to File:**
- **Online Filing:** Use the Income Tax e-Filing portal of the Government of India to file your returns.

- **Fill Out the Form:** Enter the income details, claim deductions if any, and compute the tax payable. If you are using ITR-2, ensure you provide all required details including foreign income if applicable.

- **Submit Returns:** After filling the form, submit it online. You might need to verify the return via Aadhaar OTP, EVC (Electronic Verification Code), or physical submission of signed ITR-V (Income Tax Return Verification) if required.

### **4. Addressing Past Non-Filing**

**4.1. Penalties and Interest:**
- Be prepared to pay any penalties and interest for late filing, if applicable.

- **Interest:** Under Section 234A, interest might be charged for delay in filing the return.

**4.2. Documentation:**
- Ensure you have all necessary documents such as Form 16 (for salary), rental agreements, and proof of interest income.

**4.3. Rectify Mistakes:**
- If you have any errors or omissions in past returns, you can file a revised return to correct them.

### **5. Seek Professional Assistance**

Considering the complexities involved, especially with international income and tax regulations, it might be beneficial to consult a tax professional or chartered accountant who specializes in NRI taxation. They can guide you on compliance, deductions, and the correct way to handle your specific situation.

### **Summary:**
- **Forms:** Likely ITR-2 for your case.
- **File Returns:** For AY 2022-23 and AY 2021-22 as belated returns.
- **Penalties:** Be aware of potential penalties for late filing.
- **Consult Professional:** Consider seeking help from a tax expert.

Make sure you review the latest updates and guidelines from the Income Tax Department or consult with a tax professional for precise advice.

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