income in foreign

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Kumar Babu.G (Querist)
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11 August 2008 income earned in foreign ,proceeds not repatraited to India in the relevant previous year ,those proceeds are taxable in which AY?

CA Naveen Kumar Agrawal

CA Naveen Kumar Agrawal (Expert)
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14 August 2008 it will be taxable only in case of ordinary resident in india. n wll be taxable in the previous year in which it is earned or repatriated into india which ever is earlier.
But in case of a person non resident or not ordinarily resident in india it will be taxable only if
1.it is received in india or deemed to be received in india.
2.it is earned in india or deemed to be earned in india.

CA Naveen Kumar Agrawal

CA Naveen Kumar Agrawal (Expert)
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14 August 2008 in the given case income has been earned n received outside india hence not taxable for a person not resident or not ordinary resident (in case of individual) in india.
it will be taxable for a person resident in india in the year in which it has been earned as the amount still not repatriated into india.

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