5 Tips for NRIs While Filing Income Tax Returns in India
Beware of interest liability on non-payment of advance tax
According to the provisions of the Income Tax Act, one must pay the advance tax in three installments in a year if incase the tax payable after the TDS is almost 
10,000 or more. VineetAgarwal, Director, KPMG India tells, “There are interest implications in case of default in payment of any instalments or lesser payment of advance tax. The interest is generally 1 percent per month for the default amount and extends till the date of payment. Therefore, NRIs should evaluate if they were liable to pay advance tax and whether the same was paid in time. If not, they would need to calculate the interest for default and deposit the same before filing the tax return.”
