There is no problem. Whatever you have written does not attract any tax liability
NRI salary
I have got a Job in Saudi Arabia Last year. I remit my salary amount to NRE account from where I transfer amount for my wife's local expense in her Indian saving ac. I also have a home loan. But its EMI cuts through my NRO account , hence i have also to transfer money to NRO account. NRO account has cut TDS for not maintaining minimum balance. my wife stays has to pay rent as she stays in different city and my purchased home is in different city. Could you please let me know how will i calculate my income tax with respect to this data.
Asked 8 years ago in Income Tax
My question is how to represent these data in ITR
Asked 8 years ago
Do not understand your question
While filling the online ITR in which section i should fill this, or should i omit it totally
Asked 8 years ago
You can show interest paid on your home loan in house property head and get deduction in respect of the same subject to limits specified. Further principal repayment of loan can be claimed as deduction under section 80C subject to limit of INR 150000.
For eg. you have paid 10 lac Rs. to bank in a particular year (9 lac principle repayment + 1 lac interest repayment) you can get dedcution of interest amount i.e. INR 1 lac and dedution of principle amount upto maximum INR 1.5 lac.
Please feel free to revert in case of further queries. Please let us know if you need our assistance in filing your return of income.
Thanks and Regards,
CA Abhishek Dugar
here as per our understanding there is no income accruing in India. Thus there is no tax liability in India.
No need to file the tax returns.
Dear Sir,
It doesnt appear that you have an income chargeable to Tax in India other than your Interest Income on which TDS would be deducted by the bank.
You can show the interest Income under the head Income from Other Sources.
Trust this clarifies your query.
Feel free to get back/ call back in case of further details.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP
Ask a Chartered Accountant
Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
Ask a CA