Dual residents must report global income, choose the correct ITR form, and disclose foreign assets to avoid penalties under the Black Money Act.
This infographic explains how dual residents—those meeting tax residency criteria in both India and another country—should file income tax returns in India. Indian residents (ROR) must report global income, while NRIs and RNORs are taxed only on Indian income. Use ITR-2 or ITR-3, fill Schedule FA for foreign assets, and claim DTAA relief by disclosing foreign income and taxes paid abroad in Schedule TR and filing Form 67. Non-compliance can lead to severe penalties.