Is 2011-2012 Tax filing required for non-residents if income from India is less than 1.8 lacs/year?

[Rajeev P]

My income from India is interest from savings bank accounts, fixed deposits, dividends from
equity mutual funds. All of these are around 1.6 lacs.

1. Since I am working overseas, I do have bank accounts in that country. Are these(bank accounts) considered foreign assets due to which I have to mandatorily file income tax?

2. Does the mandatory filing rule for income over 10 lacs/year apply to non-residents like me?

3. I realize if I am getting any refunds like tax deducted from non-resident ordinary accounts or if I wish to avail indexation benefits, a tax return is required for me to get those, but it is not necessary as per the Income tax law to file tax returns. Is my understanding correct?

4. Any other factors I need to be aware of?

Thanks

AI Summary

Non-residents with Indian investment income below 1.8 lacs in 2011-2012 aren't required to file tax returns under Section 115G. A non-resident individual inquired about the necessity of filing a tax return in India for the 2011-2012 period, given their income from Indian sources is below 1.8 lacs, primarily from interest and dividends. The response clarified that under Section 115G of the Income Tax Act, 1961, non-residents whose income consists solely of investment income and long-term capital gains from foreign exchange assets, with tax deducted at source, are not required to file a return. Dividends from Indian companies are exempt under Section 115-O, so filing is unnecessary if all conditions are met.