Foreign income related taxation

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This query is : Resolved

sandeep (Querist)

14 August 2015 You all heard about TCS case.(relating to employees)

between 2002 to 2005 on of my client working in USA with TCS.

Now they receive Claim around Gross amout $10205

Tax refund amount :$9094
Interest amount :$1110.4
federal tax with holding:$333(against interest)
Check Amount:$9870.13
Now in india i received that amount in 2014 august.
Now do i need to pay tax on it.

plz clarify in this regard..

Thanks

Amol S Joglekar

Amol S Joglekar (Expert)

14 August 2015 Sandeep, please can you share some more details?

Prima facie it seems that the amount relate to the years 2002 to 2005. The amount is received in the year 2014 i.e. financial year 2014-15.

What was the RESIDENTIAL STATUS for all those years between 2002 to 2005?

sandeep

sandeep (Querist)

18 August 2015 between 2002 to 2005 he was non resident.

this year he is resident.

do u want more details can u pls open this link https://tataclassaction.com/

Thank you very much for your reply.

Sandeep

Amol S Joglekar

Amol S Joglekar (Expert)

18 August 2015 The tax refund, USD 9094 is NOT taxable as the same relates to the years mentioned by you as 2002 - 2005.

Interest received on the same i.e. USD 1110.4 is taxable in India as the same is received in August 2014 i.e. financial year 2014-15, when you are RESIDENT in India. You can claim the DTAA. (Double taxation Avoidance Agreement)

Message likes : 1 times

sandeep

sandeep (Querist)

25 August 2015 thank you so much @amol s joglekar

Amol S Joglekar

Amol S Joglekar (Expert)

26 August 2015 You are most welcome.
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