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Taxation in case of nri

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10 December 2016 sir,
I am NRI. i do cloth business in abroad. i have deposited rs. 500000 in indian pnb bank directly from abroad. i want suggestion on following points:
1. whather rs.500000 will be taxable in india or not.
2. if taxable than under what head.
3. whether whole amount of rs.500000 will be treated as income or any deduction will be there.

10 December 2016 In my views: 1. The same should not be taxed in india. 2. Provided the same is earned in abroad in your hands. 3. It is mere a remission of money by yourself. suggestion: All facts must be provable with relevant docs. source: Income Tax. rakeshjeswani785@gmail.com

11 December 2016 rakesh sir.
i cash deposited rs.500000 directly in indian pnb bank from abroad. not through NRE account. its mean income accrued outside india but received in india. i think its not remission. as per sec 5 of IT act. than it should be taxed in india. in case of nri.
give me suggestion on this situation.




11 December 2016 How did you deposit Cash in India ? Did you carry cash from abroad ?

11 December 2016 Foreign currency deposited in cash outside india. Indian banks are linked from foreign banks. We can easily deposited money in our indian saving account from abroad.

11 December 2016 Since you have deposited in foreign currency you can justify income earned outside India it is not taxable

11 December 2016 Sir i think u should study this case law.
Shri Tapas Kumar Bandopadhyay, ... vs Assessee on 1 June, 2016



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