Is it necessary to file income tax return in India?
If the only income of the NRI in India is the long term capital gains on specified asset as mentioned in category b in the table above or the investment income from such assets, then there is no need to file return of income in India. If the NRI also has some other income like rent, salary, professional income, income from non-specified assets so on and so forth, then he will have to file an income tax return by the 31st July. The author, Vinit Deo is a chartered accountant. If you are an NRI and have a query on any personal finance issue, mail us at nri@moneycontrol.
