ITR form for NRI having house property

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student
333 Points Posted on 22 February 2020
NRI buys one house property this year above 50Lakhs . In which ITR it should be filed?
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On 22 February 2020 at 23:12 Report
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Quick Summary
If you are a Non-Resident Indian (NRI) who has purchased a house property in the UK valued over £50 lakhs, you may need to file an Income Tax Return (ITR). While simply owning property above this threshold doesn't automatically require filing, you must disclose it. If your taxable income exceeds the basic exemption limit, you will likely need to file ITR 2 or another applicable form.

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CHARTERED ACCOUNTANT
1609 Points Posted on 23 February 2020
Yess if taxable income exceed basic exemption limit
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On 23 February 2020 at 21:14
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43 Points Posted on 01 March 2020
To the best of my knowledge, itr need not be filed just because they are a nri and bought property more than 50 Lacs. however you need to disclose it properly in returns applicable since property value more than 50 Lacs and also if nri has taxable income he needs to file itr 2 or whatever applies to them. experts can correct me if there is any error.
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On 01 March 2020 at 20:53

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