The short answer is No, you don't need to file income tax in India if you have no income, but, rarely, you don't have income. You might not have a salary income because you are employed overseas, but you could have income as interest generated by bank fixed deposit, rental income generates by your flats in India, a royalty paid to you by your book published and sold in India, the dividend paid on your stock market investment in India.
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Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
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