Business Income of Foreign citizen in India
This query is : Resolved
31 October 2022
Dear Experts
One of my client is foreign citizen who provides astrology services in online platforms like astrotalk etc.
Tax has been deducted u/s 195
My question is as 44AD is not applicable to NRI
Can he show income as Books not maintained case ? mere gross receipts less deduction and profit in ITR 3 ?
or do he need to file P&L Balance sheet for the same
please guide
he completely operate from out of India remotely. so he doesn't have any expenditure here in india
One of my client is foreign citizen who provides astrology services in online platforms like astrotalk etc.
Tax has been deducted u/s 195
My question is as 44AD is not applicable to NRI
Can he show income as Books not maintained case ? mere gross receipts less deduction and profit in ITR 3 ?
or do he need to file P&L Balance sheet for the same
please guide
he completely operate from out of India remotely. so he doesn't have any expenditure here in india
31 October 2022
Such income is not taxable in India for non resident. File ITR and claim refund.
31 October 2022
Non residents not eligible...
For the purposes of the section 44AD,—
"(a) "eligible assessee" means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership firm as defined under clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009); and
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading "C. - Deductions in respect of certain incomes" in the relevant assessment year"
For the purposes of the section 44AD,—
"(a) "eligible assessee" means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership firm as defined under clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009); and
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading "C. - Deductions in respect of certain incomes" in the relevant assessment year"
01 November 2022
Dear Sir, yes 44AD not eligible
but then how should i show profits ? shall i show as books not maintained case ? or shall i maintained books of accounts ?
person doesn't have any expenditure in indian rupees
but then how should i show profits ? shall i show as books not maintained case ? or shall i maintained books of accounts ?
person doesn't have any expenditure in indian rupees
01 November 2022
If the income was taxed in the country of his origin, the same will not be taxed in India; otherwise you need to offer it for assessment in India.
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