Itr - very complicated (nri)

252 views 6 replies
Dear Learned Members
I am NRI and would like to know following for filling ITR
Synopsis
1) A. Y - 2017-18
2) Capital Gain (Shares) - Rs. 75000 (Advance Tax already paid - Rs 11400)
3) TDS - Rs 18973 (TDS on fixed deposit)
4) Total Income in India Salary - Nil (2) + (3) = Rs 264000
5) Deductions in India LIC Premium - Rs 12000* HDFC Life Insurance (Term Plan) - Rs11500*
*Not mentioned in ITR
A) Is my amount totaling to Rs 30370 (Rs 18976 + Rs 11400) is refundable as i am NRI.
B) Is my TDS is refundable I would like to mention here that in ITR form (Tax Paid and Verification) Rs. 30370 it is showing as Refund automatically.
 
For last two years i have claimed refund for TDS only. Please suggest

 
Replies (6)

yes sir, it is refundable

Thanks for your prompt reply.

I would like to know why the said amount is refundable as my total income in india is more than 2.5 Lakhs , can you please confirm for my clarity 

not total amount is refundable something is refundable after deduction of tax payable

1) In residential status you should put - NRI. bcoz section 87A is meant only for Resident Indians and not NRI.

2) validate each sheet and then finally click on Calculate tax.

You have to fill ITR-2 bcoz of Capital gains .

You cannot club FD interest and  capital gains together. Capital gains will be taxed at flat 20%.

If you file ITR-1 and take capital gains in other income it is wrong.

You should get refund of  30376- (0.2 * 75000)

Thanks for all your support.

I am not very familiar with IT Tax fileing but i understand that i can claim refund like i have done earlier

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