NRO Accounts - Tax filing

[Peddayana]

For NRO accounts , I think the tax rate is roughly 30% on interest, How does one file a tax return for these NRO accounts and is there a way to have this taxation reduced?

appreciate any help.

[mmharshaa]

1 minute ago, Peddayana said:

For NRO accounts , I think the tax rate is roughly 30% on interest, How does one file a tax return for these NRO accounts and is there a way to have this taxation reduced?

appreciate any help.

you can file for tds refund by filing income tax returns which gives you some money back

[Peddayana]

2 minutes ago, mmharshaa said:

you can file for tds refund by filing income tax returns which gives you some money back

any online filing websites bro?

[maverick19]

Any online websites for filing taxes?

[Bajanabatch]

1 hour ago, Peddayana said:

For NRO accounts , I think the tax rate is roughly 30% on interest, How does one file a tax return for these NRO accounts and is there a way to have this taxation reduced?

appreciate any help.

guru entha kudabettav nro accountlo ippati dhaka??

[mmharshaa]

2 hours ago, Peddayana said:

any online filing websites bro?

 

1 hour ago, maverick19 said:

Any online websites for filing taxes?

you can file using https://www.incometax.gov.in/iec/foportal or cleartax.in

Last date was 31-Jul, you need to pay a penalty of 5000/- if filing now

[jays02]

3 hours ago, Peddayana said:

For NRO accounts , I think the tax rate is roughly 30% on interest, How does one file a tax return for these NRO accounts and is there a way to have this taxation reduced?

appreciate any help.

If it is small amount, don't worry. But the same amount you can show under US taxes as paid tax and reduce the tax here. Because you already paid the tax there.

[Peddayana]

17 hours ago, jays02 said:

If it is small amount, don't worry. But the same amount you can show under US taxes as paid tax and reduce the tax here. Because you already paid the tax there.

small amount , I guess paying taxes will cost me more but I just want to be covered from a legal perspective 

[mmharshaa]

4 minutes ago, Peddayana said:

small amount , I guess paying taxes will cost me more but I just want to be covered from a legal perspective 

An NRI is not required to file an income tax return in India while having income in India, only if the specified condition is satisfied. The specified condition is that the NRI’s total income in the financial year should consist only of investment income. Alternatively, the NRI’s income may arise from long-term capital gains which are exempt from tax. However, in either case, income tax should have been deducted from the income at source.