NRI tax filing: Moved abroad? Here’s when you still need to file an ITR in India

“For example an NRI may have only NRO interest income in India, and the total income may be below the taxable limit, but the bank may still deduct TDS at maximum marginal rate. Similarly, in property sale transactions, 12.5% TDS is deducted on the total sale consideration, and not capital gains, which may lead to a higher tax deposited than calculated on actual gains,” he said.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *