Indian Tax Services
Myra Tax , with a processing center established in India, also files Indian Tax Returns for its US tax clients who are required to file tax returns in India. An individual taxpayer who is either a full year non-resident/ part year resident of India during the tax year may still need to file the tax returns in India.
Below are some of the potential situations which would need you to file tax returns in India.
- The taxpayer may receive Wages/Salaries in India for the period while he was residing in USA during Tax Year (This may be applicable for the taxpayers who are Indian Citizens and deputed to the US employer location/client locations).
- The taxpayer who earns Interest or Dividend from any source in India.
- The taxpayer may have a property (residential or any other propery) in India which was let out during the tax year and receives rental income.
- The taxpayer may have a property which was sold in the tax year at a profit/loss.
- The taxpayer made stock transactions during the tax year.
- The taxpayer, being a partner in any partnership in India, also need to file the tax returns in India if they receive any income from it.