To file itr for fy 2017-18 as nri or resident

1. As per the available data, you are ROR for FY 2016-17

2. File ITR 2. Declare the income under IFOS. Your tax liability is Nil.

3. Fill up all the schedule of foreign income, tax paid, assets etc.

Good luck.

Thank you Sri Dhirajlal Rambhia.Do you want any other data pl? However I would appreciate if you can tell me : (1). What is ROR & IFOS? (I am unable to get in Google).(2). Why sir ITR 2?  I do not have any foreign Income.

My income is in India only & that too interest income only.Since my income in India converted to Dollars is around $4500 only & since I am here with my wife no tax need to be paid for 16-17 as per CPA here. I have no asset in USA  also.

Subramanian.V

1. ROR is Resident (Ordinary Resident) & IFOS means Income From Other Sources.

2. Though you have no income or assets or transactions out of India, but being US resident now, declaring it as nil under ITR 2 will safe guard you for future inquiry, rather than non declaration same in ITR1. Its better option.

Hi Subramanian V,

As rightly stated by Dhirajlal Sir, since you qualified the second condition of Sec 6(1), you are a resident of India in FY 2016-17. Adding, since you were not a Non - Resident in 9 out of 10 previous years preceeding the current year, or, your stay in India in preceding 7 years is not equal to or less than 729 days, your residential status will be termes as 'Resident, ordinarily resident'  in India, termed by Dhirajlal sir as (ROR).

Hence you will be assessed as a normal resident in India for FY 2016-17.

But just to update you, that since your age is 78 yrs, you fall under the senior citizens category. Thus any income below Rs. 3,00,000/-, is exempt in your case. Hence as per Sec 139(1), since you do not have a taxable income in FY 2016-17, you are not liable to file Income Tax Return.

In case of any further query or any tax related assistance you cann contact me at the following:

Anubhav Jain

anubhavjain441 @ gmail.com

Thanks