Guide to NRIs Filing Tax Returns.

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Under the Indian tax laws, the taxability of one’s foreign income depends on their residential status. One’s earnings outside India will get taxed only if they qualify to be resident and ordinary resident of India.
Only few days left to file tax returns and all are in a hurry to file it before due date. Indians are making all efforts to file tax returns error free and timely but many NRIs are still worried whether they also need to file the India tax return. If yes, then do they have to file it by 31st July? Or whether they get some relaxation due to the reason of them being outside the county? Read on to find out the details. Chartered accountant firms.

“Under the Indian tax laws, the taxability of your foreign income depends on your residential status. Your earnings outside India will get taxed only if you qualify to be resident and ordinary resident of India.” But when it is about either taxing the Indian income of NRIs or filing the tax return by them, the tax laws are same for all. As such if one is earning some income in India then they may have to file tax returns within the same due dates (31st July for individuals in general) as are applicable to any other resident Indian, he adds.

For more information. You can visit at: http://bit.ly/2aR5zLl

Aadhaar, net banking-based I-T e-filing appeal system activated.

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Income Tax department has activated the Aadhaar and net banking-based e-filling verification system for tax payers to file the first appeal before a tax officer, on similar lines of online ITR filing.  In order to reduce the interface between taxman and the tax payer, the department has recently operationalized the maiden facility on its official e-filing portal. “One EVC can be used to validate one form of the assesse irrespective of the assessment year. The EVC will be stored against the assesse PAN along with other verification details. The EVC will be valid for 72 hours or as otherwise specified,” a notification in this regard said.

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http://economictimes.indiatimes.com/articleshow/51777419.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst