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I'm an NRI living in Singapore and earn rental income from an apartment in India. I also receive interest from my NRO account and recently sold some mutual funds, which resulted in capital gains.
While preparing my taxes for AY 2026-27, I came across the concept of advance tax. I'm a bit confused about whether NRIs are also required to pay advance tax, or if the TDS deducted by banks and tenants is usually enough.
Has anyone here had to pay advance tax as an NRI? How did you calculate it, and what happened if the TDS already covered most of your tax liability? I'm trying to avoid interest or penalties for underpayment, so I'd appreciate hearing about your experiences.
I live in the UAE and only receive fixed deposit interest from India. Since the TDS deducted by the bank was almost equal to my final tax liability, I didn't have any advance tax to pay. My accountant still reviewed the calculations before filing because the requirement depends on your overall tax due, not just one source of income.
I'm based in the UK and have rental and interest income in India. In one financial year, the TDS deducted wasn't enough to cover my total tax liability because I also had capital gains. My CA calculated the balance tax, and I had to pay advance tax in installments. It helped me avoid additional interest when I filed my ITR.
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I had a similar situation in Australia after selling property in India. Although TDS was deducted on the sale, it didn't fully cover my final tax liability. I ended up paying advance tax before the due date. My advice is to estimate your annual income early rather than waiting until ITR filing season.