House property

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student
333 Points Posted on 23 February 2020
NRI buys one house property this year above 50Lakhs . In which ITR it should be filed?
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On 23 February 2020 at 07:14 Report
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An NRI purchased a house property valued over £50 Lakhs this year. The discussion clarifies that an Income Tax Return (ITR) filing is generally only required if taxable income surpasses the basic exemption limit. For most NRIs in this situation, ITR 2 is the recommended form. However, if taxable income exceeds the exemption limit, filing becomes mandatory.

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SEO Sai Gr. Hosp.
212503 Points Posted on 23 February 2020

Unless taxable income is above basic exemption limit, no need to file ITR.

In general ITR 2 will be suitable.

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On 23 February 2020 at 09:25
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CHARTERED ACCOUNTANT
1609 Points Posted on 23 February 2020
If taxable income exceed basic exemption limit than required to file ITR
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On 23 February 2020 at 21:13

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