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Business News/ Money / Personal Finance/  Should NRIs file ITR for meagre income?
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Should NRIs file ITR for meagre income?

If the total income is below the taxable limit of ₹2.5 lakh, there is no need to file an ITR in India.

Should NRIs file ITR for meagre income?Premium
Should NRIs file ITR for meagre income?

My son has been a non-resident Indian (NRI) for about four years, and used to file his income tax returns (ITR) in India. However, currently he has almost no income in India except for a negligible interest income that accrues in his non-resident ordinary (NRO) savings account, for which tax has been deducted at source. Does he need to file his tax return in India, considering his income is less than 1,000?

—Name withheld on request

If your son’s total income is below the taxable limit of 2.5 lakh, there is no need to file an ITR in India.

However, if you want to claim a refund of the tax deducted at source (TDS), the only way to claim that refund is by filing a tax return.

You may also choose to declare to the bank concerned that your son’s total income is below the taxable limit and obtain a no TDS certificate from the income tax department. A copy of this certificate can be submitted to the bank so that no TDS is affected and you don’t have to go through the hassle of filing your return and claiming a refund.

Archit Gupta is the founder and chief executive officer, Clear.in

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Published: 08 May 2023, 11:01 PM IST
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