Which ITR should an NRI with no Indian Salary having Rental and Interest Income fill

POSTED BY niravjhala ON March 15, 2012 9:46 pm COMMENTS (7)

hello – I have two questions.

1) An NRI, I have no Indian Salary/Employer.
But I have Rental and NRO interest income. Which ITR should I use?
Tried ITR2 but EMPLOYER details are mandatory, so could not validate and compute tax.
 
2) About late filing penalty of INR 5000, every blog says there MAY be a penalty.
So is it discretionary? How can one avoid it especially if no tax was payable?

thanks.

 

7 replies on this article “Which ITR should an NRI with no Indian Salary having Rental and Interest Income fill”

  1. Huzefa says:
    November 14, 2016 at 3:19 pm

    Hi,

    I am an NRI employee in Africa in african base company. I get salary in USD in africa and I remit the same from africa to my Indian account which is normal saving account in INR.

    1. as far as I know I am not liable for filling any tax return as my income is exempt but then too please confirm.

    2. If I want to file NIL return then in which ITR I have to file and under which section.

    3. Is there any compulsion that NRI should remit their income in NRE/NRO/NRI a/c only, are they allowed to remit to their normal a/c?

    Regards
    Huzefa

    Reply
    1. Manish Chauhan says:
      November 14, 2016 at 10:28 pm

      Hi Huzefa

      This query belongs to CA domain, hence we are not the right people to comment on this issue.

      I suggest you get in touch with a CA for this in your city.

      We also have a CA partner incase you want to explore that, Just fill in your details here and they will give you a complimentary call back

      https://www.jagoinvestor.com/pro

      Manish

      Reply
  2. KULDEEP says:
    December 14, 2015 at 2:08 pm

    DEAR SIR ,CAN YOU PLEASE TELL ME WHICH ITR IS SUITABLE FOR NRI

    Reply
    1. Manish Chauhan says:
      December 28, 2015 at 10:28 am

      Hi KULDEEP

      A CA is more qualified to answer you query, hence I suggest better get in touch one.

      We are not right people to talk on this

      Manish

      Reply
  3. niravjhala@hotmail.com says:
    March 16, 2012 at 1:22 am

    Thank you Ashal. appreciate your response. I will try out the ‘Employer NA’ option in the Drop down menu. In fact I just wrote ‘Not Emplyed’ in that field and moved on.

    But ITR 1 will not apply for me because of the House Rental Income. I beleive that requires ITR 2 but I shall check it out.

    Again, thank for responding.

    Reply
    1. ashal jauhari says:
      March 19, 2012 at 12:50 am

      Dear Nirav, if your source of income is from any or some or all of the following 3, you are eligible to fill ITR-1.

      1. Salary Income – Not applicable to you
      2. Income from house property – applicable to you
      3. Income from other sources – Read interest income, applicable to you

      So you can file ITR-1 also.

      thanks

      Ashal

      Reply
  4. ashal jauhari says:
    March 16, 2012 at 1:10 am

    Dear Niravjhala, you may use even ITR-1 also. While filling the data in the employer code, please use NA (given there in the drop down menu). Now click to validate, I was able to do so while trying as an example after reading your query, in ITR-1.

    The penalty for late filing is indeed a discretionary power resting with your assessing officer.

    Thanks

    Ashal

    Reply

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