Tax Harbour

Tax Harbour Seamless solutions for filing Income Tax Returns (ITR) and comprehensive tax planning services for Seafarers and NRIs.

15/08/2026

Independence Day, miles away from home. 🇮🇳⚓️

For every seafarer celebrating onboard today — away from family, but always close to the nation.

Your dedication, sacrifices and countless days at sea keep the world moving.

Today, we celebrate you.
A heartfelt salute to all our seafarers. ❤️🇮🇳

Happy Independence Day!

12/07/2026

Contact us at 9015575710

It is also important to note that reporting exempt salary income, which is otherwise not required to be disclosed in the Income Tax Return, may unnecessarily invite scrutiny of your return.

Need help with your ITR filing, tax notices, or scrutiny proceedings?
Contact us today

Tax Harbour is a seafarer-focused tax and compliance firm helping seafarers with:
✔️ ITR Filing
✔️ Tax Notices
✔️ Scrutiny Proceedings
✔️ TDS & Compliance Support

04/07/2026

Contact us at 9015575710

⚠️ Important Update for NRI Seafarers filing ITR for FY 2025–26

There has been significant confusion among seafarers regarding where to report sailing income while filing the Income Tax Return for FY 2025–26.

Here’s what you need to know:

✅ As per the Income Tax Act, if your sailing income qualifies as non-taxable in India (subject to residential status and applicable conditions), there is no mandatory requirement to report such income in the ITR.

However, till the last financial year, many seafarers were voluntarily disclosing their sailing income under the “Other Exempt Income” column as a matter of practice for better disclosure and record-keeping.

This year, when the ITR utilities were initially released, the “Other Exempt Income” option was missing.

This created panic among many seafarers:
• Should sailing income be reported somewhere else?
• Has the reporting requirement changed?
• Will non-reporting create issues later?

Now comes the important update 👇

📌 The Income Tax Department has added back the “Other Exempt Income” option in the ITR forms on 30th June, 2026.

This means seafarers who prefer voluntary disclosure can continue reporting sailing income there, as was commonly done earlier. Those who have already filed their Income Tax Return (ITR) before 30th June may consider revising their return, if required.

It is also important to note that reporting exempt salary income, which is otherwise not required to be disclosed in the Income Tax Return, may unnecessarily invite scrutiny of your return.

Need help with your ITR filing, tax notices, or scrutiny proceedings?
Contact us today

Tax Harbour is a seafarer-focused tax and compliance firm helping seafarers with:
✔️ ITR Filing
✔️ Tax Notices
✔️ Scrutiny Proceedings
✔️ TDS & Compliance Support

30/05/2026

📢 Mandatory ITR Filing – Important Update for FY 2025-26 (AY 2026-27)

Many taxpayers believe that ITR filing is required only when taxable income exceeds the basic exemption limit. However, under the Income Tax Act and Rule 12AB, return filing may be mandatory even if your income is below the taxable limit.

✅ ITR Filing is Mandatory for Resident Individuals if they:
• Hold any asset outside India.
• Have signing authority in any foreign bank/account.
• Are a beneficiary of a foreign asset.
• Deposit ₹1 crore or more in one or more current accounts during the year.
• Spend ₹2 lakh or more on foreign travel (for self or any other person).
• Spend ₹1 lakh or more on electricity consumption during the year.

✅ For NRIs:
• ITR filing is mandatory if total income earned/accrued in India exceeds the applicable basic exemption limit.

✅ Applicable to Both Residents and NRIs:
• Total income exceeds the basic exemption limit.
• Business turnover exceeds ₹60 lakh.
• Professional receipts exceed ₹10 lakh.
• Aggregate TDS/TCS is ₹25,000 or more during the year (₹50,000 for resident senior citizens).
• Savings bank deposits exceed ₹50 lakh during the year.

⚠️ Important: Even if your taxable income is below the basic exemption limit, you may still be required to file an ITR if any of the above conditions are applicable.

For assistance with NRI, Seafarer, and Resident ITR filing, feel free to contact us.

9015575710
9821617961

29/05/2026

📢 ITR-2 Forms Now Available for Filing

The Income Tax Department has now enabled ITR-2, which is primarily applicable for many NRI taxpayers and seafarers.

At present, we are awaiting complete updates in AIS and Form 26AS before final uploading of returns on the portal. Meanwhile, our team is actively preparing Computation of Income (COI) for clients who have already shared their documents.

✅ To ensure timely and smooth filing, all clients are advised to start sharing their documents at the earliest.

Early submission helps us:
• Verify tax records properly
• Prepare accurate computations
• Avoid last-minute delays during peak filing period

— Team Tax Harbour

9015575710
9821617961

💯⚓️🚢

27/05/2026

🚢 Seafarers, stop stressing over taxes.

❌ Wrong filing
❌ Missed deductions
❌ Tax notices

✅ Expert guidance
✅ Maximum refund
✅ Hassle-free ITR filing

You sail the world.
We handle your taxes. 🌊

📞 90155-75710 | 98216-17961
🌐 www.taxharbour.in

26/05/2026

The due date for filing Income Tax Return for FY 2025–26 is 31st July 2026.

Don’t wait till the last date. Share your documents early to avoid last-minute stress and ensure smooth filing.

Submit your documents at: [email protected]

9015575710
9821617961

25/05/2026

Is Bitcoin taxable in India? Here’s what crypto investors must know
Yes — cryptocurrency is taxable in India.
Under Section 115BBH:
· Flat 30% tax on gains from Virtual Digital Assets (VDAs)
· Plus surcharge and cess
· No deduction allowed except cost of acquisition
Also:
· 1% TDS applies under Section 194S on certain transactions
· Loss from crypto cannot be set off against other income
· Loss cannot be carried forward
Important:
· Even swapping one crypto for another may trigger tax
· Non-reporting may attract notices through exchange data sharing
Crypto taxation is now heavily monitored.
Trade carefully. Report correctly.
Visit taxharbour.in
9015575710
9821617951

⚓️

21/05/2026

Many people are incorrectly assuming that income up to ₹12 lakh is fully tax-free for everyone under the new tax regime.

The reality is different for NRIs and seafarers qualifying as Non-Residents.

The ₹12 lakh “zero tax” benefit is mainly due to rebate under Section 87A, which is available only to Resident Individuals.

NRIs are NOT eligible for this rebate.

Therefore, for NRI seafarers, the basic exemption limit under the new tax regime for FY 2025-26 remains only ₹4 lakh on taxable Indian income.

Any Indian-source taxable income above ₹4 lakh may attract income tax as per applicable slab rates.

Seafarers should carefully evaluate:
• Residential status
• Indian-source income
• NRE/NRO transactions
• Capital gains & other taxable income

before assuming NIL tax liability.

— Team Tax Harbour
Experts in NRI & Seafarer Taxation
9015575710
9831617961

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Lakhimpur
262801

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