Filing Income Tax Return (ITR) for Seafarers: Who Should File?
According to Section 139(1)(b), individuals with a total income exceeding the maximum amount not chargeable to income tax are required to file an income tax return before availing any deductions under Chapter VI-A. This includes deductions like LIC, medical premiums, and school fees under section 80. Filing a return is mandatory if you:
- Have deposited Rs 1 crore or more in current accounts
- Have spent over Rs 2 lakh on travel to a foreign country
- Have incurred electricity expenses exceeding Rs 1 lakh or Rs 50,000 in specific areas
- Make deposits totaling more than Rs 50 lakh in one or more savings accounts
- Have TDS/TCS deductions of Rs 25,000 or more (Rs 50,000 for senior citizens) in FY 2022-23 or later years
- Have gross receipts exceeding ten lakh rupees in a profession during the previous year
- Have sales, turnover, or gross receipts exceeding sixty lakh rupees in a business during the previous year
Maximum Income Not Chargeable to Tax for FY 2023-24 (AY 24-25)
For the financial year 2023-24, the maximum amounts not chargeable to tax are as follows:
| Category | Old Regime (Rs) | New Regime (Rs) |
|---|---|---|
| Non-resident of any age group | 2,50,000 | 3,00,000 |
| Resident below 60 years | 2,50,000 | 3,00,000 |
| Resident 60 to below 80 years | 3,00,000 | 3,00,000 |
| Resident 80 years or more | 5,00,000 | 3,00,000 |
FAQs on Filing Income Tax Return for Seafarers
I have been sailing for 5 years but never filed an income tax return. Should I start filing now?
Yes, even if your income is not taxable, it is advisable to file a return. This ensures a complete record of your non-resident status and prevents potential issues with the income tax department in the future.
I maintained non-resident status for 4 years but never filed a return. Can I get a notice for non-filing?
There is a possibility of receiving a notice for non-filing even if your Indian income is below the taxable limit. To avoid this, it is recommended to file a return regularly.
When should I file my income tax return for FY 2023-24?
The due date to file Income Tax Return for FY 2023-24 is 31st July 2024. Late filing is allowed until 31st December 2024 with applicable penalties.
What income tax return form should I use for FY 2023-24?
For non-resident seafarers, the appropriate form is generally ITR-2. It is important to check for any updates in the available forms.
Can I file my income tax return for FY 2024-25 before March 31, 2025?
No, income tax returns can only be filed after the financial year ends. The official forms and filing dates are typically announced around April 20th every year.
My Indian employer deducts TDS from my Chief Engineer salary. Should I report this income as Salary or under section 44ADA?
If you are employed by an Indian company as Chief Engineer, your salary income should be reported as such. It is essential to accurately report your income, regardless of the TDS deduction section.
What if I work for a foreign company as Chief Engineer but cannot complete my non-resident status outside India?
Similar to an Indian employer, the nature of your relationship with the foreign company determines how you should report your income – either as salary or under section 44ADA.
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