Top 5 NRI Income Tax Filing Services in India

Do you live outside India and earn income from Indian sources, such as property sales, rent, or investments? As an NRI, you are required to file income tax returns (ITR) in India if your taxable income exceeds the exemption limit. Understanding NRI taxation can be complex due to different tax rates, deductions, and exemptions.

At MoneyCentric, we simplify this process with expert consultation, ensuring that your taxes are filed accurately and in compliance with Indian tax laws.

Why Choose MoneyCentric for NRI Tax Filing?

Save Time and Money: Get expert assistance without wasting hours on complex tax calculations.
Trusted by Over 1 Million Customers: A proven track record in helping NRIs with tax compliance.
4.9 Service Rating: High customer satisfaction with seamless tax filing.
Secure and Reliable Platform: Your data is encrypted and protected.

ITR for Non-Resident Indians – Inclusions

Filing taxes as an NRI involves multiple aspects. With MoneyCentric, you get:

On-Call & Email Consultation: Our tax experts guide you throughout the process.
Income Tax Return (ITR) Filing: We ensure that your tax return is filed accurately for the financial year.
Analysis of Indian and Foreign Income: A comprehensive check to determine tax liability.
Capital Gains Assessment: If you have sold property or investments, we help classify your gains correctly.
Maximizing Tax Refunds: Our experts analyze deductions and exemptions to minimize tax liability.
Tax Payment Assistance: We guide you on paying taxes to avoid penalties.
E-verification Support: Verify your return online without visiting any office.

Who is a Non-Resident Indian (NRI)?

A Non-Resident Indian (NRI) is an individual who does not meet the criteria of a Resident in India for a given financial year.

Documents Required for NRI Tax Filing

To file your Income Tax Return (ITR) as an NRI, you need the following documents:

PAN Card: A Permanent Account Number (PAN) is mandatory for tax filing.
Passport: Used to verify your identity and residential status.
Salary Slips & Form 16: If you earn salary income from an Indian employer.
Bank Account Details: A valid NRO account is needed to receive tax refunds.
Investment Details: If you have mutual funds, shares, or deposits in India.
Tax Payment Receipts: Proof of advance tax or TDS paid.
Foreign Asset Details: If you own property, bank accounts, or investments abroad.
Rental Income Details: If you earn rent from property in India.

Missing any of these documents can delay your tax filing.

How to Determine Residential Status?

Under the Income Tax Act, 1961, you are considered a Resident in India if:

You have stayed in India for 182 days or more during the financial year.
You have stayed in India for 60 days or more in the financial year and 365 days or more in the last 4 years.

However, the 60-day rule does not apply if:

You are an Indian citizen who left India for employment or as a ship crew member.
You are a Person of Indian Origin (PIO) visiting India.

If neither of these conditions is met, you are classified as an NRI for that financial year.

For official details, refer to the Income Tax Department’s Residential Status Guide

Do NRIs Need to Pay Taxes in India?

Yes, NRIs are liable to pay taxes in India on income earned or accrued in India. However, foreign income is not taxable in India unless it is received in an Indian bank account.

Taxation Based on Residential Status:

Resident Indians: Global income is taxable in India, including income earned abroad.
NRIs: Only Indian-sourced income is taxable in India.

For more details, refer to the Income Tax Act, 1961.

When Do NRIs Need to File an ITR?

NRIs must file an ITR if:

Their total taxable income in India exceeds ₹2,50,000 in a financial year.
They wish to claim a tax refund due to TDS deductions.
They want to carry forward losses to future years.

Do NRIs Need to Be in India to File Taxes?

No, NRIs can file and e-verify their tax returns online from anywhere in the world. E-verification can be done using an OTP, Aadhaar-based verification, or by sending a signed ITR-V form to the Income Tax Department in Bengaluru.

NRI Tax Exemptions and Deductions

NRIs can claim tax deductions under various sections. However, some investments and exemptions available to residents do not apply to NRIs.

Deductions Available for NRIs

Section 80C: LIC premiums, ELSS, tuition fees, home loan principal repayment.
Section 80D: Health insurance premiums.
Section 80E: Interest on education loans.
Section 80G: Donations to charitable organizations.
Section 80TTA: Interest on savings accounts.

Deductions Not Available for NRIs

PPF (Public Provident Fund): New accounts cannot be opened by NRIs.
NSC (National Savings Certificate) & Post Office Deposits.
Senior Citizen Savings Scheme.

For updated tax rules, visit the Income Tax Slab Rates Page.

Taxation of NRI Income from India

Rental Income
Taxable in India, even if received abroad.
TDS of 30% is deducted from rental income before payment to NRIs.
Capital Gains on Property Sales
Short-Term Gains (Holding <2 Years): Taxed at 30%
Long-Term Gains (Holding >2 Years): Taxed at 20% with indexation benefits.
Interest from Bank Accounts
NRE Account Interest: Tax-free.
NRO Account Interest: Taxable.
Fixed Deposits (FDs): NRE FD interest is tax-free, but NRO FD interest is taxable.
For NRI banking regulations, refer to the RBI Guidelines.

How Can NRIs Reduce Their Tax Liability?

NRIs can minimize their tax burden by:

Claiming deductions under Sections 80C, 80D, and 80E.
Using capital gains exemptions under Sections 54, 54F, and 54EC.
Avoiding double taxation through DTAA (Double Taxation Avoidance Agreement) benefits.

To check DTAA tax rates for your country, visit this DTAA List.