NRI Income Tax Filing Checklist for FY 2024–25 Preparing to File Your Indian ITR – A Comprehensive Guide for NRIs

Filing an Income Tax Return (ITR) in India as a Non-Resident Indian (NRI) can often seem complex due to the multiple categories of income, residency rules, and compliance requirements. However, with the right documentation and a structured approach, the process can be seamless and efficient.

This guide aims to simplify the preparation process by outlining the essential documents and information NRIs should organize before initiating their ITR filing for Financial Year (FY) 2024–25, corresponding to Assessment Year (AY) 2025–26.

While the standard due date for filing ITR in India is 31st July 2025, the Income Tax Department has extended the due date to 15th September 2025. This extension is attributed to the delay in releasing the income tax return utility and activation of the e-filing mechanism for the financial year.

Although the filing window has been deferred, NRIs are encouraged to begin gathering relevant information well in advance to avoid last-minute complications.

1. Basic Identification and KYC Documents

• PAN Card
• Aadhaar Card (if available; not mandatory for NRIs)
• Passport (including front, back, and pages showing Indian immigration entry and exit stamps)
• Valid Visa or Overseas Resident Permit

These documents are crucial for determining your residential status under the Income Tax Act and for verification purposes.

2. Access to Income Tax Portal

Ensure you are able to log in to the official e-Filing portal (https://www.incometax.gov.in). Verify and update the following:

• Mobile number (preferably linked with your Indian bank account)
• Email ID (active and accessible – linked with your Indian bank account)
• Current overseas address (if applicable)

These details must align with your bank KYC for smooth validation and e-verification.

3. Bank Statements for FY 2024–25 (01 April 2024 – 31 March 2025)

• NRO Account Statements (interest is taxable in India)
• NRE Account Statements (interest is exempt only if FEMA conditions are satisfied)
• Indian Savings Account Statements (if applicable)

4. Income from Property in India

• Property address with PIN code
• Rental income received during the financial year
• PAN and name of tenant(s)
• Municipal taxes paid
• Nature of ownership (sole, joint, or co-owner)

5. Salary Income (If Applicable)

• Employment/offer letter from the Indian employer
• Monthly salary slips
• Form 16 (Parts A and B)

6. Business or Professional Income

If you own a business or work as a consultant/freelancer in India:

• Profit & Loss Statement and Balance Sheet
• Details of receipts and expenses
• GST Returns (if GST registration is applicable)

7. Capital Gains from Shares and Mutual Funds

• Realised Capital Gains Statements from mutual fund platforms
• Profit & Loss report from brokerages
• Dividend income details
• PMS (Portfolio Management Services) portfolio statement and audit report, if applicable

8. Sale of Capital Assets or Property

• Sale deed and original purchase deed
• Fair Market Value report (if the property was acquired before 1 April 2001)
• Proof of reinvestment (e.g., purchase of another property under Section 54)
• Indexed cost of acquisition (note: not applicable for sales on or after 23 July 2024)
• Brokerage and legal fees paid

9. Other Sources of Income

• Annual interest certificates from banks (NRO/NRE)
• Income from fixed deposits, recurring deposits, annuities, pensions, or royalties

10. Deductions and Exemptions (Chapter VI-A)

Documents to support deduction claims under Chapter VI-A:

• Life and health insurance premium receipts
• Tuition fee receipts (if eligible under Section 80C)
• Home loan principal repayment certificate
• Medical insurance receipts (Section 80D)
• Donation receipts with valid 80G registration numbers

11. Loan Interest Certificates

• Housing loan interest certificate (for Section 24 deduction)
• Education loan interest statement (for Section 80E deduction, if eligible)

12. Calculation of Residential Status

• Record of days spent in India during the financial year
• Dates of arrival and departure from India (landing and take-off days count as stay in India)
• Travel history from passport or supporting documents like boarding passes

13. DTAA Documentation

If you are claiming tax relief under the Double Taxation Avoidance Agreement (DTAA):

• Tax Residency Certificate (TRC) issued by the country of residence
• Form 10F (now required to be submitted electronically on the Income Tax portal)
• Declaration of beneficial ownership

14. Disclosure of Foreign Assets and Income

Disclosure requirements for individuals qualifying as ‘Ordinarily Resident’:

• Details of foreign bank accounts
• Details of foreign real estate holdings, equity investments, and pensions
• Schedule FA and Schedule FSI in the income tax return

• Ensure correct determination of your residential status under both the Income Tax Act and FEMA.
• Maintain clearly labelled, scanned copies (preferably in PDF format) of all key documents.
• Disclose all sources of income accurately to ensure compliance and avoid notices or scrutiny.
• Timely and accurate filing is essential for hassle-free refunds, smooth remittance processes, and clean tax records.

If you are an NRI looking for end-to-end guidance on Indian taxation—be it accurate return filing, capital gain planning on property or investments, application of Tax Residency Certificate (TRC) for DTAA benefits, or managing cross-border compliance—consider reaching out to Zenify Consultancy Services. With deep expertise in NRI-specific tax matters, Zenify offers personalized, compliant, and practical solutions that make your financial journey in India seamless and stress-free. Our consultations are tailored to your residency status, income streams, and long-term goals. Connect today to get clarity, avoid costly mistakes, and ensure peace of mind.