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