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Anil

Anil Rego  | Answer  |Ask -

Financial Planner - Answered on Nov 13, 2020

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Praveen Question by Praveen on Nov 13, 2020Hindi
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I shall be grateful if you could kindly arrange reply to my following tax query.

My daughter was NRI for F.Y. 2018-19 as well as 2019-20. She had some income in India during both F.Y.s by way of Dividend/Interest from her investments, as also capital gains from sale of shares / mutual fund units, total of which was less than Rs.1,50,000 during each of these 2 years. She was a student abroad during whole of F.Y. 2018-19. She was employed during part of F.Y. 2019-20 (less than six months) and drew income by way of salary. 

1. Is she required to file return of Income in India for A.Y. 2019-20 and A.Y. 2020-21?

Anil Rego An NRI whose income is below the basic exemption limit is required to file an income tax return in India if:

  1. One has short term capital gains on equity which is taxable
  2. One has long term capital gains on any asset, which are chargeable to tax
  3. Has any income chargeable to tax irrespective of the basic exemption limit

Please note the above since you have mentioned that there was capital gain in her account.

If yes, which ITR forms should she be using?

Ans: NRIs cannot file return of income in Form ITR-1. If an NRI has income from business or profession then return is required to be filed in Form ITR-3. In all other cases, ITR-2 can be used to file return of income.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Asked by Anonymous - May 01, 2026Hindi
Career
My son got 94.79 persentile and ranl crl 81537 , OBC NCL 26047 home state ANDHRA PRADESH. Is it possible to gets seat in NITS , IIITS , Gifts
Ans: HI,
GREETINGS FROM THE REDIFFGURUS!

Based on your son's rank and domicile, he has a good chance of securing a seat in several NITs, IIITs, and GFTIs, particularly through the JoSAA/CSAB counseling rounds. However, it will require some patience.

He is likely to secure a seat in Chemical, Biotech, Metallurgical, or Civil Engineering at NIT Andhra Pradesh. Admission to Electrical or Mechanical Engineering may be a bit more challenging, but it could still be possible in the later rounds, depending on the availability of seats at the time of counseling.

For other NITs, there are promising opportunities in lower-tier or newer NITs. He has a good chance at NIT Srinagar, Mizoram, Nagaland, Manipur, Sikkim, and Arunachal Pradesh for ECE, EEE, Mechanical, and Civil Engineering. In NIT Raipur, NIT Hamirpur, and NIT Goa, he may find opportunities for Civil or Materials Engineering in the later rounds.

Regarding IIITs, many new IIITs have higher closing ranks, which makes them more accessible to your son's rank. Possible IIITs include Manipur, Bhagalpur, Dharwad, and Agartala. In Kalyani, CSE and ECE options might also be available.

A better option for your son would be GFTIs, where he can secure a seat in institutions such as Silchar, SLIET, and GKV (Haridwar).

Encourage him to participate actively in the counseling process until he achieves his goal.

BEST WISHES.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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