You're a non-resident Indian who accrued more than ₹2.5 lakh in India in a fiscal year. ITR filing is voluntary for individuals whose gross total income is below ₹2.5 lakh and do not meet any of the above criteria. Why should you file an income tax return? Here are six reasons ...
This Income tax return form is designed for individuals whose annual income from salary or pension is below Rs. Fifty lakhs who own just one house property. ITR-2: Beyond Business Ideal for Non-Resident Indians (NRIs), directors of companies, and shareholders of private companies. This ITR ...
Remember those with an income from business or professioncannot opt in and opt out of the new tax regime every year.Once a non-salaried opts out of the new tax regime, they cannot opt in again for the new tax regime in the future. Form 10IE is a declaration made by the return filers...
Resident but not ordinarily residentYou have been a non-resident in India in 9 out of 10 preceding yearsORyou have been in India for 729 days or less during the 7 preceeding years. Non-resident:You were a non-resident duringthe previous year.You need to provide details of where you were...
File your FY 2023-25 (AY 2025-25) Income Tax Returns online easily with Myitronline. Upload Form-16, check TDS, refund status. Trust us for tax solutions.
You should use the ITR-2 form if any of the following apply to you: You are an individual director in a company. You have made investments in unlisted equity shares during the financial year. You are a Resident Not Ordinarily Resident (RNOR) or a non-resident. ...
The conditions to be called as an Indian resident are: Staying in India for at least 6 months or 182 days during a financial year Or, Staying in India for 2 months/60 days in last financial year AND have stayed for whole year/365 days in last four years. ...
In the new ITR forms,an expat who is not an Indian citizen and is in India on business,employment or student visa would not mandatorily be required to report the foreign assets acquired by him during the previous years when he was non-resident and if no income was derived from such assets...
Long term capital gains of a non-resident Indian on any asset other than a specified asset 115E(a) 20 Page 4 of 12 Instructions to Form ITR-6 (AY 2016-17) Long term capital gains of a non-resident Indian on any specified 32. asset 115E(b) Double Taxation Avoidance Agreement (DTAA...
Foreign assets The Ministry said an individual, who is not an Indian citizen and is in India on business, employment or student visa (expatriate), will not mandatorily be required to report foreign assets acquired by him during the previous years in which he wasnon-resident, if no income is...