87 Year Old New NRI , Cant Travel , Cant Sign any more

Others 346 views 2 replies

My Father is 87 Year Old , He has Parkinson , so he cant even sign . I moved him abroad with me as his situation was getting worst day by day .

He has 2 Bank Accounts ( 1 more pension  ( joint with my mother ) and 1 for stock dividends ) in India . He also has 1 demat/trading account . Problem is as his signature dont match the file and he can travel to India , we are not able to convert the accounts to NRO .

I was thinking of filing his next year  tax return as NRI , but the AIS would have all the interest / dividend / stock sale as Resident . What should i do , Pls suggest.

Replies (2)

You need to select correct residential status as NRI in ITR while filing.

Though as per FEMA, you are required to convert accounts to Nro but income tax act is fine with it. You just have to declare residential status correctly and pay taxes as Nri. Doesn't matter if ais / tds has details reported as resident.


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