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Income Tax for NRI: Tax Rules for NRI’s moving Back to India

Updated on 21 Sep 2021  9.00 AM IST | 4 min read

Tax Rules for NRI’s Moving Back to India

NRI’s returning back to India after serving many years in foreign countries will be termed as “NRI’s moving back to India”.

Tax Rules for NRI’s Moving Back to India

NRI’s returning to India assume RNOR status for which the conditions are mentioned below –

  • a)In case you are an NRI in previous 9 of the 10 financial years preceding the year of return.
  • n case you lived in India for 2 or less than 2 years in the previous 7 financial years.

After returning to their home country, Income tax department allows RNOR’s to enjoy the same exemptions which are allowed to NRI’s but it is only given after 2 years. Therefore, deposits held in foreign currency which are exempted for NRI’s are also exempted for RNOR’s after living in India for 2 years.

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Due Dates

  • GSTR-7 Summary of Tax Deducted at Source (TDS) and deposited under GST laws

     Sep 10th ,2021

  • GSTR-8 Summary of Tax Collected at Source (TCS) by e-commerce operators under GST laws

     Sep 10th ,2021

  • GSTR 1 for Aug 2021 (turnover more than INR. 1.50 Crore)

     Sep 11th ,2021

  • GSTR-6 Details of Input Tax Credit (ITC) received and distributed by an Input Service Distributor (ISD)

     Sep 13th ,2021

  • GSTR-3B is a summary return to be filed by all taxpayers except those registered under the composition scheme, every month. However, from 1st January 2021, there is also quarterly filing option provided to taxpayers with annual aggregate tunrover of up to Rs.5 crore, opting for the QRMP scheme for Aug Month. (Aggregate turnover exceeding Rs.5 crore in the previous financial year)
     

     Sep 20th ,2021

  • GSTR-3B is a summary return to be filed by all taxpayers except those registered under the composition scheme, every month. However, from 1st January 2021, there is also quarterly filing option provided to taxpayers with annual aggregate tunrover of up to Rs.5 crore, not opting for the QRMP scheme for Aug Month. (Aggregate turnover up to Rs.5 crore in the previous financial year)

     Sep 20th ,2021
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