Tax Return India
February 25th, 2009
Question: How to file income tax return in india by NRI having only house property income and what is form no.?
what is the last date for filing tax return for 1.4.2006 to 31.3.2007 can this be filed by internet.
Answer: If the rental income less than Rs.1,40,000 then you can forget filing returns.
Rental income say Rs.1,40,000
Less 30% rebate on Rs.1,40,000= Rebate Rs.42,000
Your net Taxable income Rs.98,000If you have no other income in India, even if the rental income is Rs.1,40,000 per year you can just avoid or can file it when you come to india. (because the rental income will be less than 1 lakh after 30% rebate for house repairs. 1,40,000*-30%=98,000)
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