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tvrao (engineer)     06 March 2015

Income tax for nri with indian income

Dear sir,

I am NRI having some queries below. Please some expert advise me.

1. Is it compulsory to file ITR even without Indian income?

2. I have some Indian income from...

a) house rent

b) short term capital gains mainly from sale of shares

 c) speculative trading in F&O.

how are these incomes  to be  shown in ITR and at what % tax is to be applied?

3. Can I fill ITR & pay the income tax online through IT website without submitting hardcopy?

4. If it can be done, how is proof of income submitted?

 

Thanks

tvrao



Learning

 2 Replies

tvrao (engineer)     06 March 2015

Further to my question above I add some more information

I have income from Gulf which is non taxable

I operate share trading throu Indian resident account (not NRO/NRE)

I pay some housing loan EMI in NRE account

I did not file ITR for the last 7yrs (being NRI for this period)

Advocate Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India)     07 March 2015

It depends upon residential status as per the provisions of Income Tax Act,in case you will qualify as a resident then return filing , tax etc... Would be required .... CA Karan Chandna 9871563826

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