Ought to NRIs file ITR for meagre revenue?

My son has been a non-resident Indian (NRI) for about 4 years, and used to file his revenue tax returns (ITR) in India. Nonetheless, at the moment he has virtually no revenue in India aside from a negligible curiosity revenue that accrues in his non-resident unusual (NRO) financial savings account, for which tax has been deducted at supply. Does he must file his tax return in India, contemplating his revenue is lower than 1,000?

—Title withheld on request

In case your son’s whole revenue is beneath the taxable restrict of 2.5 lakh, there isn’t any must file an ITR in India.

Nonetheless, if you wish to declare a refund of the tax deducted at supply (TDS), the one method to declare that refund is by submitting a tax return.

You may additionally select to declare to the financial institution involved that your son’s whole revenue is beneath the taxable restrict and acquire a no TDS certificates from the revenue tax division. A duplicate of this certificates may be submitted to the financial institution in order that no TDS is affected and also you don’t must undergo the trouble of submitting your return and claiming a refund.

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

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