{"id":45709,"date":"2022-07-28T10:59:59","date_gmt":"2022-07-28T05:29:59","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=45709"},"modified":"2024-12-27T16:54:38","modified_gmt":"2024-12-27T11:24:38","slug":"how-to-file-itr-for-nri","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/","title":{"rendered":"How to File ITR for NRI?"},"content":{"rendered":"\n<p>ITR \u2013 Stands for Income Tax Return. It is a form of declaring Income from multiple sources and paying taxes to the income tax department. It contains details of Income and tax-saving investments made by individuals during the financial year. However, this article will discuss how to file (Income \u2013 Tax return) \u2013 ITR for <strong>NRI(Non-Residential Indian)<\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Non-resident_Indian_and_Overseas_Citizen_of_India\"><strong>[1]<\/strong><\/a><\/sup> in India.Further, we will discuss several forms of ITR and which forms are required to file by NRI.<\/p>\n\n\n\n<p>NRI \u2013 Stands for Non-Resident Indian, is a citizen of India\nor person of Indian origin who is not a resident of India. The question arises\nwhether the Non-Resident Indian should file a Return of Income depends on\nwhether the NRI has taxable Income in India.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Status_of_NRIs\" >Status of NRIs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#How_many_types_of_ITR_Forms_are_there\" >How many types of ITR Forms are there?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Does_it_is_required_to_file_ITR_for_NRI\" >Does it is required to file ITR for NRI?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Why_NRI_is_not_required_to_file_ITR\" >Why NRI is not required to file ITR?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Due_Date_of_ITR_for_NRI\" >Due Date of ITR for NRI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Exemption_Available_in_ITR_for_NRI\" >Exemption Available in ITR for NRI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Deduction_available_to_NRI\" >Deduction available to NRI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Procedure_for_Filing_ITR_for_NRI\" >Procedure for Filing ITR for NRI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/corpbiz.io\/learning\/how-to-file-itr-for-nri\/#Conclusion\" >Conclusion:<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Status_of_NRIs\"><\/span>Status of NRIs <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>If\nan Individual stays less than 60 days in India in a financial year.<\/li>\n\n\n\n<li>Secondly,\nwhen the stay is in excess of 60 days but is lesser than 182 days and the\ncumulative stay in the four years preceding the year in question is lesser than\n365<\/li>\n\n\n\n<li>Finally,\nwhen an individual departs from India to take up employment outside India and\nthe duration of stay is lesser than 182 days in the year of departure.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_many_types_of_ITR_Forms_are_there\"><\/span>How many types of ITR Forms are there?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are different types of ITR forms which are published on\nthe Income Tax portal for filing Income Tax returns. <\/p>\n\n\n\n<ul>\n<li>ITR\n\u2013 1&nbsp; <\/li>\n\n\n\n<li>ITR\n\u2013 2 <\/li>\n\n\n\n<li>ITR\n\u2013 3 <\/li>\n\n\n\n<li>ITR\n\u2013 4 <\/li>\n\n\n\n<li>ITR\n\u2013 5 <\/li>\n\n\n\n<li>ITR\n\u2013 6 <\/li>\n\n\n\n<li>ITR\n\u2013 7 <\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_it_is_required_to_file_ITR_for_NRI\"><\/span>Does it is required to file ITR for NRI?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is required to file ITR for NRIs in India if they have taxable Income in India. Let&#8217;s take an example an NRI having an income of rent from a House property in India has to file <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>Income Tax Return<\/strong><\/a> if the rental Income exceeds the exemption limit. The tax is applicable to the Income of NRI, and he has to file his ITR in India. The tax is applicable to NRIs for the following Income.<\/p>\n\n\n\n<ul>\n<li>Any\nIncome which arises or accrues In India<\/li>\n\n\n\n<li>An\nIncome which is deemed to arise or accrue In India<\/li>\n\n\n\n<li>AnyIncome\nwhich is deemed to be received in India<\/li>\n\n\n\n<li>Any\nIncome received from India<\/li>\n<\/ul>\n\n\n\n<p>Additionally, losses from the financial year may only be\ncarried forward and offset against Income from subsequent financial years once\nthe tax return for the year of loss has been submitted. Finally, late\nsubmission of a return is subject to a penalty interest charge of 1% per month\non the outstanding tax. If the IT Return is not submitted within a year of the\nend of the relevant financial year, a fine of Rs 5,000 may also be assessed. As\na result, NRIs must file their income tax returns on time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_NRI_is_not_required_to_file_ITR\"><\/span>Why NRI is not required to file ITR?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>ITR for NRI is exempted from filing only if the specified\ncondition is satisfied. The specified condition is that the NRI Income in the\nfinancial year should consist of only Investment Income. The Income may also\narise from Long term Capital Gain, which is taxed at 15%. However, in either case, Income\nshould have been deducted from the Income at the source. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Due_Date_of_ITR_for_NRI\"><\/span>Due Date of ITR for NRI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>ITR for NRI must be filed on or before the due date of 31\nJuly of Assessment Year. However, if the NRI is a working partner of a firm\nwhose books are required to be audited, then the due date for filing ITR is 30\nSeptember. If Assessee has missed the due date of filing a return, he can also\nfile a belated return.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exemption_Available_in_ITR_for_NRI\"><\/span>Exemption Available in ITR for NRI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>Interest\nearned on government-issued bonds and saving certificate<\/li>\n\n\n\n<li>Capital\nGain earned on long-term Investment<\/li>\n\n\n\n<li>Interest\ngenerated from FCNR or NRE Accounts<\/li>\n\n\n\n<li>Dividends\naccrued from Indian Company shares&nbsp;&nbsp; <\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deduction_available_to_NRI\"><\/span>Deduction available to NRI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>The following are the deduction available to NRIs?<\/strong><\/p>\n\n\n\n<ul>\n<li>Section\n80C<\/li>\n\n\n\n<li>Section\n80E<\/li>\n\n\n\n<li>Section\n80TTA<\/li>\n\n\n\n<li>Section\n80D<\/li>\n\n\n\n<li>Section\n80G<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedure_for_Filing_ITR_for_NRI\"><\/span>Procedure for Filing ITR for NRI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>NRI can file Income Tax returns online. The detailed\nprocedure to be followed for filing ITR for NRI is discussed below for a better\nunderstanding.<\/p>\n\n\n\n<ul>\n<li>With the help of a <strong><a href=\"https:\/\/corpbiz.io\/dsc-registration\" title=\"DSC Registration\">Digital Signature<\/a><\/strong> (DSC), a person can furnish its Return.<\/li>\n\n\n\n<li>Transmitting the income tax data in Return electronically under the electronic verification code<\/li>\n\n\n\n<li>Transmitting the data in the Return electronically and then submitting the verification of the Return in FORM ITR-V<\/li>\n\n\n\n<li>In case the Assessee is using FORM ITR- V, the assesses should send a copy of ITR \u2013 V electronic Data processing centre in Bangalore, duly signed by the Assessee.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Online process <\/h3>\n\n\n\n<ul>\n<li><strong>STEP 1: <\/strong>An NRI has to apply for the PAN card\nby filing Form No. 49A<\/li>\n\n\n\n<li><strong>STEP 2:<\/strong> Select the Tax return form and fill\nthem in with essential information<\/li>\n\n\n\n<li><strong>STEP 3:<\/strong> Upload all requisite documents and\nDigital signatures at the Online Portal of the Income Tax Department in India <\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After reading this article, we can conclude that NRI can claim the available deduction which is mentioned under the act. There are certain exemptions which are also discussed as the procedure to file an ITR. <strong> <\/strong><\/p>\n\n\n\n<p class=\"text-left\"><b>Read our Article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/types-of-itr-income-tax-returns-online\/\">Types of ITR (Income Tax Returns)<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ITR \u2013 Stands for Income Tax Return. It is a form of declaring Income from multiple sources and paying taxes to the income tax department. It contains details of Income and tax-saving investments made by individuals during the financial year. However, this article will discuss how to file (Income \u2013 Tax return) \u2013 ITR for [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":45710,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[2535],"acf":{"service_id":"403"},"authorName":"Saiyam Shah","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-76.jpg","authorDescription":"Saiyam Shah has done his LL.M in Business Law from Amity Institute of Advanced Legal Studies \u2013 Amity University. His area of interest is legal research related to Indirect \u2013 Tax and Company law. He has prior experience in Tax litigation, dealing with various Income \u2013 Tax Assessments and has good drafting skills in filing arguments and replying to Income \u2013 Tax Notices.","postViews":3977,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/45709"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=45709"}],"version-history":[{"count":11,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/45709\/revisions"}],"predecessor-version":[{"id":68079,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/45709\/revisions\/68079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/45710"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=45709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=45709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=45709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}