Important Deadline
ITR filing deadline for FY 2023-24 is July 31, 2024 for most NRIs. Late filing attracts penalties starting from ₹5,000.
| ITR Form | Who Should Use | Income Sources |
|---|---|---|
| ITR-1 | Resident individuals only | Salary, pension, one house property |
| ITR-2 | NRIs, HUFs, individuals with multiple income sources | All income sources, capital gains, foreign assets |
| ITR-3 | Business/professional income | Business profits, professional fees |
Visit www.incometax.gov.in and register using your PAN
First-time users: Complete profile, set password, verify mobile/email
Select appropriate ITR form (usually ITR-2 for NRIs)
Options: Online filing utility, Excel utility, or manual PDF form
Enter personal details, residential status, and contact information
Important: Select "Non-Resident" in residential status
Fill income from salary, house property, capital gains, and other sources
Indian Income:
Foreign Income (if applicable):
Enter eligible deductions under various sections
| Section | Deduction | Limit |
|---|---|---|
| 80C | PPF, ELSS, Life Insurance | ₹1.5 lakh |
| 80D | Health Insurance | ₹25,000-₹50,000 |
| 24(b) | Home Loan Interest | ₹2 lakh |
Report foreign financial assets in Schedule FA
Mandatory if: Total foreign assets > ₹50 lakh at any time during the year
Review all details, calculate tax, and submit the return
Verification options: Digital signature, net banking, Aadhaar OTP, or physical submission