Tax on Foreign Income | TaxBuddy

NRIs are required to report and pay taxes on their global income, including earnings from foreign sources. However, Double Taxation Avoidance Agreement (DTAA) helps avoid paying tax twice on the same income. TaxBuddy assists in understanding and utilizing these treaties to minimize your tax burden.

To file your NRI tax return with TaxBuddy, simply upload your necessary documents (like Form 16, bank statements, and foreign income proofs). Our experts will review your documents, calculate your taxes, and file your return accurately and timely.

Our ITR filing services for NRIs start at ₹4,499 per year, depending on the complexity of your income. Additional services like double taxation relief or balance sheet attestation may incur extra charges. Pricing is transparent, with no hidden fees.

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Yes, we help NRIs navigate DTAA (Double Taxation Avoidance Agreement) provisions. If you're paying tax on the same income in both India and your country of residence, we can guide you on how to claim relief and minimize double taxation.

To file your ITR for NRI, you need the following documents:

• PAN Card

• Form 16 (if applicable)

• Bank statements

• Income proof from abroad (salary, rental income, business income, etc.)

• Investment proofs (for deductions under 80C, 80D, etc.)

• Capital gains details (if applicable)

Once you upload the required documents, your ITR filing with TaxBuddy is usually completed in minutes. After filing, you'll receive an instant acknowledgment.

The deadline for filing ITR for NRIs is typically 31st July of the assessment year. However, this may vary depending on individual circumstances. If you miss the deadline, belated filing is available, but it may come with penalties.

Yes, NRIs can claim deductions on investments made in India, such as life insurance, PPF, NPS, and others under sections like 80C, 80D, etc. However, deductions for investments abroad are not typically allowed unless they fall under specific categories.

If you’re an NRI and have no income from India, you might not need to file a tax return in India. However, if you have income from foreign sources or wish to claim a refund for tax withheld on income, you will need to file an ITR.

Yes, you can file your NRI tax return without Form 16 if you have salary income or income from other sources. In that case, you’ll need to provide salary slips or a certificate of income from your employer or any other relevant documents.

• ITR-2 is used by NRIs who have income from salaries, capital gains, or other sources (including income from property).

• ITR-3 is for freelancers or business owners (whether self-employed or professionals) who also earn income from business or profession.

Yes, you can still file a belated return. However, if you miss the deadline, you may have to pay penalties and interest on your outstanding taxes. TaxBuddy assists you with filing a belated return and minimizing penalties.

If your income is below ₹2.5 lakh, you are not required to file an ITR unless TDS (Tax Deducted at Source) has been deducted on your income and you want to claim a refund. In such cases, filing an NRI tax return will help you claim any excess TDS.

For NRIs earning income from multiple countries, you must report all global income on your ITR. We can help you navigate the process, ensuring compliance with Indian tax laws and applying DTAA to avoid double taxation.