yashsr
CA
[ Scorecard : 1876]
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Posted On 29 May 2012 at 11:24
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Hello,
If a person who is a British citizen but residing in India for the past 4-5 years completely but has no income in India, is he required to file return?
Obviously with the new budget, they're required to give details of their foreign assets and bank accounts.. But what about their income in the UK if they're paying taxes and filing returns in the UK? Will that income also have to be shown in India(and consequently DTA relief has to be obtained)?
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PRITAM JAIN, CA , CS
Practising CA CS
[ Scorecard : 368]
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Posted On 29 May 2012 at 14:43
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As per the details given by you the concerned person is a resident and ordinarily resident therefore he has to file return in India and pay taxes after taking releif as mentioned in DTAA agreement with UK..
Total thanks : 1 times
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Manish
Expert
[ Scorecard : 339]
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Posted On 29 May 2012 at 15:19
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Dear Yashsr
In new ITR you have to show your foreign assests not income.
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Manish
Expert
[ Scorecard : 339]
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Posted On 29 May 2012 at 15:21
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Dear Yashsr
In new ITR you have to show your foreign assests not income.
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yashsr
CA
[ Scorecard : 1876]
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Posted On 29 May 2012 at 16:47
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Yes but income will also be have to shown since they're Resident, isn't this true?
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PRITAM JAIN, CA , CS
Practising CA CS
[ Scorecard : 368]
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Posted On 29 May 2012 at 17:08
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showing assets outside India is an additional requirement but being a Resident and Orridarily Resident He has to file Return of Income
Total thanks : 1 times
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