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FAQ'S On filing ITR
A "Non-Resident" is an individual who does not qualify as a Resident in India. The residential status of a person is assessed annually to determine whether they are a Resident or Non-Resident for that specific year. Therefore, an individual's residential status must be evaluated each year.
Yes, NRIs do have to pay taxes in India. Once you determine your residential status, the next step is to identify whether your income is taxable in India according to the Income Tax Act, 1961.
For Resident Individuals: Your global income is taxable in India, meaning income earned both in India and abroad is subject to taxation in India.
For Non-Resident Indians (NRIs): Only the income earned or accrued in India, or deemed to be so, is taxable in India. Income from any other country is not taxable in India.
No, physical presence in India is not necessary for filing and verifying your income tax returns. You can file your income tax return online from anywhere in the world. Additionally, you can electronically verify your ITR from any location. You have the option to either send a signed copy of the ITR-V to the CPC Income Tax Department in Bengaluru or electronically verify it within 30 days from the date of filing your ITR.