NRIs (Non-Resident Indians) must file an income tax return in India if they have any income that is taxable in India, or if they meet certain criteria such as having high-value transactions or certain kinds of expenditures. If an NRI has bought or sold property or made large credit card payments, they have engaged in certain transactions, they may still be required to file a return, even if their income is not taxable in India.
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This can be helpful for future financial planning or for demonstrating their financial history when applying for loans or other financial services in India.
It is always advisable for NRIs to consult with a tax professional to determine their tax obligations in India and to file their returns in a timely and accurate manner.
Conclusion
In conclusion, NRIs must file an income tax return in India if they have taxable income or if they meet certain criteria such as high-value transactions. Filing a return can also help establish their financial history and aid in future financial planning or loan applications. Tax professionals recommend that NRIs seek their guidance to ensure compliance with their tax obligations and accurate and timely filing of their returns.