Does NRI need to file ITR in India if he buys an apartment

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24 Points Posted on 26 December 2022

Does NRI need to file ITR in India if he buys an apartment in India?

I'm an NRI living in USA and recently bought an under construction apartment in Hyderabad. The builder paid 1% TDS on my behalf. Now do I need to file ITR for this ? I don't have any other income in India. 

Few days back I received an email from Income tax department regarding e-Campaign - Non-filing of Income Tax Return for AY 2022-23.

Can I select Not liable to file return of Income in AIS portal ? Please help.

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On 26 December 2022 at 21:51 Report
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An NRI living in the USA recently purchased an under-construction apartment in Hyderabad, with the builder deducting 1% TDS. Despite having no other Indian income, they received an e-campaign notice for non-filing of ITR. The discussion explores whether filing an ITR is necessary or advisable, especially considering potential scrutiny and the need to explain the source of funds. It also seeks guidance on selecting the correct option when filing ITR-2 without any taxable income.

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Practising CA
8954 Points Posted on 27 December 2022
Advisable to file the return of income. Have seen NRIs getting scrutiny income tax notice where you will have to explain source of funds etc. So an ITR filed would help you positively at the time of assessment.
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On 27 December 2022 at 09:00
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24 Points Posted on 27 December 2022

I don't have any income in India. I just purchased a property and it is still under construction. 

What option should I select when filing ITR-2 below since I don't have any income? Please help.

1) Taxable income is more than basic exemption limit

 

3) Others

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On 27 December 2022 at 22:10

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