Tax Filing in Bangalore for NRI

If you are a non-resident Indian who has lost contact with your birthplace but still receives money from your land or property back home, you must file an income tax return in conjunction with your visits back home. Revenue earned and received in a foreign nation, as well as money remitted back, cannot be taxed if you are a non-resident Indian. However, if your profits in India (in the form of interest from savings accounts, fixed deposits, or leasing income) exceed Rs. 2,50,000, you must file your taxes online. NRI tax filing in India is crucial since it establishes your residency status and determines whether you are required to file an income tax return in India. As a result, your residential status is determined by the number of days you spent in India within a given financial year.  All of your questions have been answered to the best of our ability. Learn everything you need to know about NRI tax filing in India.  Important Details And Clauses About Tax Filing Does an NRI need to file income tax returns in India? NRI or not, any person whose earnings exceeds Rs.2, 50,000 is obliged to file an income tax return in India.  However, make a note that NRIs are only taxable for revenues collected in India.  Is the income earned abroad taxable?  In India, an NRI's income tax is determined by his residency status for the year. If you have a 'NRI' status, all of your income generated or accumulated in India is taxed in India. Revenue earned or accumulated in India includes income acquired in India or earnings for services rendered in India, revenue from a property located in India, capital gains on the sale of an asset based in India, interest on a savings bank account, and earnings from fixed deposits. For an NRI, these profits are taxable. Earnings earned outside of India or in another country are not taxable in India. The interest earned on an NRE or FCNR account is tax-free. NRO, on the other hand, has a high rate of interest.  When is an NRI supposed to file his return of income in India? Similar to any other individual taxpayer, an NRI should file his return of income in India if his total gross income received in India goes beyond Rs 2.5 Lakhs for any financial year. Moreover, the due date for filing income tax return for an NRI is 31 July of the assessment year.    

As an NRI (Non-Resident Indian) living in Bangalore, you may have to file your taxes both in India and in the country where you are residing, if required. Here are the steps to file your taxes in India:

Determine your residency status: Your tax liability in India will depend on your residency status. If you have stayed in India for more than 182 days in a financial year or 60 days in a financial year and 365 days in the preceding four years, you will be considered a resident.

Collect your tax documents: Collect all your tax-related documents, such as Form 16 (if you have been employed in India), salary slips, rent receipts, interest income certificates, and any other relevant documents.

File your tax returns: You can file your tax returns online through the Income Tax Department's website or offline by submitting a physical copy of the tax return form. You can also seek the help of a tax consultant or chartered accountant to file your returns.

Pay taxes due: If you have any tax liability after filing your returns, you can pay your taxes online through the Income Tax Department's website or by visiting an authorized bank.

Keep a copy of your tax return: Keep a copy of your tax return and all relevant documents for future reference.

It's important to note that NRIs are taxed only on income earned in India. Income earned outside India is not taxable in India, but you may have to pay taxes on it in the country where you are residing.

Additionally, NRIs can also avail of tax benefits under the Double Taxation Avoidance Agreement (DTAA) between India and the country where they reside, which prevents them from being taxed twice on the same income.

• Passport Copy
• PAN Card
• Overseas Address Proof
• Income Proof (Indian & Foreign)
• Bank Account Statements (NRE/NRO)

Testimonials

From opening my NRI account to planning my finances across borders, NRIWAY guided me at every step. Their advice was practical, clear, and tailored to my situation.

Varun Rajput

Financial Services

As an NRI, I was unsure about my tax liabilities in India. NRIWAY walked me through everything, filed my taxes accurately, and saved me from penalties. Their financial expertise is unmatched.

Anita Meshram

Financial Services

Declaring foreign income in India can be a nightmare, but NRIWAY made it simple. Their financial consultants handled everything smoothly and professionally. I’m relieved I chose them.

Meena Lokhande

Financial Services

I wanted to invest my savings back in India but didn’t know where to begin. NRIWAY connected me with certified advisors who helped structure my portfolio. I now feel more confident about my long-term goals.

S. Rohit

Financial Services

Filing taxes from the UAE used to be confusing, but NRIWAY made it effortless. Their financial team handled every form and explained the process clearly. I finally feel stress-free during tax season.

Aditya Kumar

Financial Services

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Testimonial

From opening my NRI account to planning my finances across borders, NRIWAY guided me at every step. Their advice was practical, clear, and tailored to my situation.

×

Testimonial

As an NRI, I was unsure about my tax liabilities in India. NRIWAY walked me through everything, filed my taxes accurately, and saved me from penalties. Their financial expertise is unmatched.

×

Testimonial

Declaring foreign income in India can be a nightmare, but NRIWAY made it simple. Their financial consultants handled everything smoothly and professionally. I’m relieved I chose them.

×

Testimonial

I wanted to invest my savings back in India but didn’t know where to begin. NRIWAY connected me with certified advisors who helped structure my portfolio. I now feel more confident about my long-term goals.

×

Testimonial

Filing taxes from the UAE used to be confusing, but NRIWAY made it effortless. Their financial team handled every form and explained the process clearly. I finally feel stress-free during tax season.

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