Regarding NRI Tax returns
My earnings for the below period as
April 2014 till June 2014 in India,
July 2014 till Jan 2015 in Singapore ( More than 200 Days ),
Feb 2014 till March 2015 in India
I'll be paying tax in Singapore.
Should I need to file tax returns?
My Indian earning will be approximately 300K INR for the above mentioned period.
Regards,
Mani
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You are considered a resident for tax purposes if you have stayed in
India for 182 days or six months in the current financial year
You are also considered a resident if you have stayed in India for 60
days or 2 months in the previous year, and have lived in India for
one whole year in the past four years
You will be considered an NRI for tax purposes if you do not meet either of the two criteria listed above.
If your status is “resident” for the current financial year, then your global income is taxable in India. However, if your status is NRI, then only the income generated by you in India is taxable for that year
Tax Exemptions Available For NRIs
Life Insurance Premium payment
Children’s tuition fees
Principal repayments on loan for purchase of house
Unit-linked insurance plan
Donations for social causes
Interest paid on education loan
Premium paid for health insurance
As you were more than 182 days out of India in the financial year 1-April-14 to 31-Mar-15, you would be treated as Non-Resident [NRI] for tax purposes in India.
I am assuming that for the period you were in India, you were paid a salary, there would be deductions at sources and taxes paid. Even otherwise if you have been filing returns previously its advisable to file returns. You need to only declare the income that you earned in India and pay applicable taxes.
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