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The Income Tax Department has notified the income tax return (ITR) forms for FY 2024-25 (AY 2025-26). But, although software utilities for ITR-1 and ITR-4 have been released by the tax department, it still hasn’t rolled out the software utilities for ITR-2 and the other ITR forms. Non-Resident Individuals (NRIs) mainly use ITR-2 to file their tax returns.
Income tax rates applicable to old & new tax regime, deduction available under various section is given in the post
Income tax portal provides a details of Returns and Forms applicable to salaried NRI for AY 2025-26
For NRIs, filing ITRs in India can seem complex. But with increased digital scrutiny and evolving compliance requirements, it is more important than ever to get it right.
Non-Resident Individual is an individual who is not a resident of India for tax purposes. In order to determine whether an Individual is a Non-Resident or not, his residential status is required to be determined u/s 6 of the Income Tax Act, 1961 as given below:
Meet Srishti, an Indian citizen currently residing and working in the USA. Recently, she checked her Form 26AS online and discovered a TDS entry of INR 20,000, deducted at 30% of the interest earned in her NRO account in India. Now, the big…