♠ ‘A’ an Indian by birth.
♠ Got his British citizenship and Overseas Citizenship Certificate two years back.
♠ He is 37 years old.
♠ He has valid PAN card but no Aadhaar card.
Issues to be addressed or Queries to be resolved:-
(a) Whether ‘A’ has to file Income Tax return here in India for FY 18-19?
(b) Which Form ‘A’ has to use if he has to file a return?
(c) Whether ‘A’ can file Return of Income without Aadhar card?
a) Interest Income on FDR
b) Interest income from NRO account
c) Maturity proceeds from LIC exempt provided the premium paid on the policy does not exceed 10% of the sum assured for policies issued after 1 April 2012 and 20% of sum assured for policies issued before 1 April 2012 – under Section 10(10D). If above conditions are not fulfilled then it is fully taxable.
d) Capital gain from sale of shares in Indian Companies and or from redemption of Mutual Fund units held in India.
Hope the Article helps to resolve some issues.
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