Should NRIs file tax returns in India? How to file tax returns in India?

Should NRIs file tax returns in India? How to file tax returns in India?

Who should file returns?

> Your taxable income in India during the year 2010-2011 was above the basic exemption limit of Rs 1.6 lakh OR

> You have earned short-term or long-term capital gains from sale of any investments or assets, even if the gains are less than the basic exemption limit.

The last date to file returns for the financial year 2010-2011 is July 31st 2011.

The income tax website allows you to efile your return. But the process maybe a bit cumbersome. You would need to download a software, fill in your details and upload an XML file. You would then need to print and send a copy of the acknowledgement (known as ITR-V) to the tax office in Bangalore within 30 days. You can do this for free.

Some online service providers offer a more user friendly experience, for a fee of course. please research on that for/by yourself.

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