ITR Filing Question
2 years ago
I was residing outside India from 2007 to 2020 and moved to India in August 2020. Hence, I qualify for RNOR status. However, I have taxable income in India for FY 2020-21. Am I required to file a tax return and if so, which form (ITR1, ITR2, etc) do I need to file?
Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
In your case, you are allowed to keep your RNOR status for up to 3 financial years post your return back to India. Your taxation will be very much in line with that of an NRI and therefore income that you may earn outside of India will continue to be not taxed in India.
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In your case, you are allowed to keep your RNOR status for up to 3 financial years post your return back to India. Your taxation will be very much in line with that of an NRI and therefore income that you may earn outside of India will continue to be not taxed in India.
Please rate my answer
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A.Hi,
If you are a RESIDENT BUT NOT ORDINARILY RESIDENT (RNOR) Interestingly, in case you have just returned back to India – you are allowed to keep your RNOR status for up to 3 financial years post your return back to India. That could benefit you in a big way – since your taxation will be very much in line with that of an NRI and therefore income that you may earn outside of India (while you may have returned back) will continue to be not taxed in India.
Please rate my answer
Thank You
If you are a RESIDENT BUT NOT ORDINARILY RESIDENT (RNOR) Interestingly, in case you have just returned back to India – you are allowed to keep your RNOR status for up to 3 financial years post your return back to India. That could benefit you in a big way – since your taxation will be very much in line with that of an NRI and therefore income that you may earn outside of India (while you may have returned back) will continue to be not taxed in India.
Please rate my answer
Thank You
Helpful
Helpful
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