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

[Asked by Guest]

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-resident filing requirement: no return needed for investment income or long-term capital gains from foreign exchange assets if tax deducted.
Non-resident individuals whose Indian income consists only of investment income and long-term capital gains from foreign exchange assets with tax deducted at source need not file an income tax return if specified conditions are satisfied; foreign exchange assets include specified shares, debentures, deposits, government securities and UTI units, and dividends exempt under the dividend provision do not create a filing obligation, though refunds or indexation claims require filing.