24 August 2008
Thanks all for your responses ( shown below ) for my previous query. As I said earlier last two years I was in australia and I was getting salary there only. I paid tax and filed returns for these two years in Australia. I have transferred my savings to my bank account ( Residential Savings Account ) in India. Do I need to declare this in India by filing returns or by some other means ? How will our IT department know that I have got that money if i do not file anything based on the point that my icnome in India is less than taxable limit
24 August 2008
Since the income is below the taxable limits no return is required to b filed. If you are claiming any deductions under Section 80, filing of return is a must.
24 August 2008
No need to file the return if you have a NOn-Taxable Income otherwise you have to file a return in India for the Income accrued ,arisen and received in India.
CAclubindia
