Double taxation
This query is : Resolved
sachin gor
(Querist)
02 December 2014
what is effect of interest on capital earned in india by NRI partner of U.K. ? whether it's Taxable in India Or in U.K.? under which section it is provided ? Please provide Link Of related query.
02 December 2014
what is the current status of person is not mentioned by?
sachin gor
(Querist)
02 December 2014
there are four partners in firm One of them is resident and other three are non-resident.
02 December 2014
if he is non resident then foriegn income is not taxable in india but all india shall be taxable in india
sachin gor
(Querist)
02 December 2014
But sir, Interest is accrued in india.then what is the effect?
02 December 2014
where is the firm and how int is accued in india? in case if its indian income then yes its taxable for non resident.
sachin gor
(Querist)
02 December 2014
sir,firm is incorporated in india gujarat. And interest is accured On partners capital.
02 December 2014
then simply its indian income and taxable................
sachin gor
(Querist)
02 December 2014
sir,it is applicable to foreign partners?
02 December 2014
yes as they are nri but indian income tax is applicable in india
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CA Kumar Mukesh
(Expert)
03 December 2014
As per section 9 any income received or deemed to be received or income accrue or deemed to be accrue India shall be taxable in India in all cases irrespective of status of asseessee.
Therefore, in your case it will be taxable in India.
Note: for detailed understanding read section 9 of Income Tax Act, 1961 thoroughly.
Therefore, in your case it will be taxable in India.
Note: for detailed understanding read section 9 of Income Tax Act, 1961 thoroughly.
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