How you can e-verify IT return from overseas?

How can a non-resident Indian (NRI) file earnings tax return (ITR) and e-verify it on-line since OTP (one-time password) messages can’t be delivered overseas?

—Rajiv Kaushik

NRIs can file their return on-line from wherever they’re primarily based and verification might be finished by way of netbanking, which doesn’t require an OTP.

My son, who’s an NRI, has a resident fastened deposit (FD) and I intend to alter this to non-resident abnormal (NRO) account after the FD’s maturity which incurs a 30% tax. Can I convert this account to a non-resident exterior (NRE) FD, thereby avoiding tax implications?

—Title withheld on request

As soon as you progress overseas and intend to remain there for a long run, it’s essential to convert all of your resident accounts to non resident accounts together with any deposits held.

Curiosity earned on NRE deposits is exempt from tax. Please just remember to intimate the financial institution of the change in your residential standing and comply with the rules with respect to redesignating the accounts to non-resident as required.

Archit Gupta is founder and chief government officer, Clear.in.

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