Foreign earning by nri - does it qualify as exempt income?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2016
Hello
If an NRI is filing tax return in India, should he disclose foreign income which is not taxable in India as Exempt Income?
If we see definition of income in ITA, it is very comprehensive and hence per se, the foreign income qualifies as income for NRI hence should be disclosed. Only issue is that it is not taxable u/s 6 and not exempt u/s 10
Conversely, if not disclosed as exempt income, what can be the implications?
Thanks.
If an NRI is filing tax return in India, should he disclose foreign income which is not taxable in India as Exempt Income?
If we see definition of income in ITA, it is very comprehensive and hence per se, the foreign income qualifies as income for NRI hence should be disclosed. Only issue is that it is not taxable u/s 6 and not exempt u/s 10
Conversely, if not disclosed as exempt income, what can be the implications?
Thanks.
24 December 2016
No implication, no need to disclose foreign income under exempt income.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Free lancer income
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
