Income Tax Returns
Personal tax planning may seem to be easy most of the times given our familiarity with Indian tax laws. However, One last mile advise can help an individual save tax and plan better for the future. We help our clients take advantage of complex and frequently changing tax laws in a proactive manner so as to minimize there efforts and reduce there future compliance cost.
Income Tax Return Filling
Tax Management and Planning
Why is it important ??
Abide by Laws
Meet future Goals
Non Resident Indians
People moving out of India for employment or other purposes are required to file their Income tax returns in India subject to the provisions of Income tax laws in respect of Income accrued, arised or received in in India.
Similarly, people moving back to India can take advantage of the provisions of the Income Tax Act by filling return in India.
Any NRI who earn more than INR 2,50,000 in a Financial Year is liable to e-file income tax return in India.
The Income-tax Act, 1961 ('the Act') states that non-resident taxpayers would not be required to file their income tax returns in India if interest or dividend is the only source of income and on which tax has been withheld. This exemption was not available to non-resident taxpayers who were earning royalty or Fee for Technical Services from India.
However, a Non resident should file his income tax return if he wants to take advantage of provisions of Direct Tax Treaty in form of reduced tax rates or refund of tax deducted at Source.
Updates and Insights