I am staying abroad for the last 2 years and I have no income in India apart from rent from a house which is partially able to take care of the EMI on Home Loan. So my annual income with the rent being 10K per month comes to 1.2 Lakhs per annum. However my EMI is 11K Per Month. also i paid a property tax of 7.5K this year for the above property. So my expenses on the property come to 11K times 12 7.5K = 1,39,500 Rs. I put the extra money into the property from earnings abroad. Since this is negative income do i have to file income tax returns in India? If yes will i be paying any tax?
