15 April 2018
the income is to be taxed in the year in which it was earned. So any past income that remained untaxed in the relevant previous year, needs to be taxed in that year itself
Querist :
Anonymous
Querist :
Anonymous
(Querist)
15 April 2018
So sir, if the past untaxed income is foriegn income and the assesse is non resident person, and now he brought into in india, so its taxable in india or not
15 April 2018
then it is not an untaxed income. You should have the facts of your case and understanding of tax laws. All the more important if you are advising your clients.
16 April 2018
What kind of income? What is your residential status? If you have earned income during the previous year it will taxed during the current assessment year. If such tax has not paid then you have to pay it along with the interest for late payment and interest for deferment of tax.
CAclubindia
