Your Income Tax Queries: Which ITR form should I file to claim TDS deducted from NRO account?

By Chirag Nangia

I am a seafarer. I had completed my Non-Resident External account days during FY2019-20. I received my salary in my NRE account. Which ITR form should I file to claim TDS deducted from NRO account?
—Vagesh Chhabra
Non-residents, not having income from business or profession, may declare India-sourced income in ITR-2. Any excess of TDS over the final tax liability shall be refunded by the income tax department after processing the return.

I am a regular ITR filer. In 2018-19, I sold a flat for Rs 72 lakh. The buyer deducted TDS of Rs 72,000 and it is reflecting in my ITR. As the property was sold for loss after indexation, the IT department refunded this amount. AY2020-21 prefilled ITR2 form shows the IT return inclusive of this TDS amount. My total income will increase because of the refund. Is this correct? Or can I show this amount as carry forward loss?
—Ramadoss Sekar Chandrasekaran
In the absence of facts, we shall not be able to guide you as to the inclusion of the amount of refund in the pre-filled form. However, note that the pre-filled ITRs have been provided by the I-T Department to make filing easier for taxpayers. The same may not be error-free. One must match all particulars of income, exemptions, etc. with the actual information and make corrections, if any, before submission of ITR form. Seek the services of a tax practitioner to ensure that correct particulars are submitted to the department.

How can I get tax benefits on education loans for my son’s higher education abroad?
—A K Pandey
As per Section 80E, anyone taking loan from any financial institution or approved charitable institution for pursuing higher education, whether in India or abroad, can claim deduction equivalent to the entire amount of interest paid on the borrowed sum for a consecutive period of eight years, beginning from the assessment year in which the individual has started paying the interest on loan or until the assessment year in which the interest is paid by the individual in full, whichever is earlier. The loan can be taken for the education of self, spouse, children or the student for whom the individual is the legal guardian.

The writer is director, Nangia Andersen India. Send your queries to [email protected]