We also need to differentiate between EXEMPTED INCOMES and DEDUCTIONS ALLOWED. We need to consider only the aggregate Taxable income for this purpose, not the net income after factoring deductions allowed. If you have other incomes like Interest from NRO Saving Account, NRO FDs, Rental Income, Capital Gains (from shares, Mutual funds, or Real Estate, etc) income from Salary/ profession or business, which is more than 2.5 Lakhs and you have claimed deductions under 80C/ 80D, etc, which may result in NIL net income or it falls below 2.5 Lakhs (or the prevailing minimum income threshold), still you are obligated to file your ITR. Please note that one need not add tax-free incomes like interest on NRE savings accounts, NRE FDs & FCNR deposits. If such income is more than 2.50 Lakhs (any threshold fixed by the Govt) in any Financial year, you must file an ITR. Let us discuss- when you must file an ITR when you need not file a tax return and the benefits of filing an ITR, even when you are not obligated to file ITR.īeing an NRI you may have some income accrued or earned in India by way of salary / professional fees, business income, rental income, interest or dividend income, or capital gains. Some think NRIs need not file ITR at all. Others feel every NRI needs to file ITR. And you may be wondering if you need to file an ITR in India.

Yes, you may be a resident of a country where there is no income tax.

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