73% of NRIs plan to file ITR by July, SBNRI survey finds

A recent survey by SBNRI, an NRI-focused fintech platform, reveals that over 73% of NRIs plan to file their Income Tax Returns or ITR by July for the financial year 2023-24.

The survey also found that 19% of NRIs have already filed their returns, while 8% do not intend to file.

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SBNRI aims to simplify financial processes for NRIs, including ITR filing, by offering tailored financial services and expert guidance. This assistance helps NRIs navigate complex tax regulations and ensure efficient compliance with their financial obligations.

Filing ITR is crucial for financial compliance, requiring the declaration of income earned, taxes paid, and any refunds due.

NRIs often face challenges such as double taxation and the need to account for foreign income and special account implications