No Relaxation for NRIs in Income Tax Filing Date

Even though Coronavirus effect has given extension to the resident taxpayers of India, the same cannot be said about the Non-Resident Indians.

In a move that might be surprising to you, NRIs are not given any extension in their Income tax return filing date. So, it can be said that no relaxation for NRIs in income tax filing date has been given.

What is the deadline for Income Tax filing for NRIs?

For Non-Resident Indians, the usually July 31st, following the end of the previous financial year. Seeing that it’s a date that’s already a relaxation enough for the Non resident Indians, one can understand why they weren’t given any relaxation.

Is it common for NRIs to file Income Tax Returns?

Many individuals are confused about NRIs filing Income Tax returns. Well, their confusion is forgivable, considering there are actual conditions only under which an NRI is obligated to file Income tax returns. The Income tax return conditions for an NRI are as follows:

1. If the total (taxable) income of the Non resident Indian is more than INR 2.5 lakhs, only then, the NRI is obligated to file the Income tax return.
2. If the NRI has deposited an amount of a sum of amount that is more than INR 1 Crore in one more account with a bank or cooperative bank of India during the financial year, then that NRI has to file the Income tax return.
3.  If the NRI has spent individually or with someone else, a sum of more than INR 2 lakh to travel to a foreign country, then it’s mandatory for them to file Income tax returns.
4. If the NRI has spent more than INR 1 lakh in their consumption of electricity, than during that financial year, that NRI has to file an Income tax return.

Conclusion

Are you an NRI (Non-resident Indian) who falls under any of the mentioned conditions? If so, don’t be afraid, our Income tax filing experts can help you file your ITR returns as per the required time. For any other aid, you can our team at any given time.

Author: Dushyant Sharma

Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.