Income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2016 If someone is working in american company in USA and have salaried income on which tax deducted by the company and there is only interest income in India which is less than basic exemption limit, is it mandatory for him to file ITR in India and show his interest income which is earned in India with salary income which is earned in USA?
For example
Salaried income 10 lakh rs earned in USA
Interest income. 1 lakh rs in india

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

21 August 2016 Salary income earned in USA is exempted. No need to file return disclosing that income. Return has to be filed only when interest income exceeds 2.50 lacs.

Tareq Imam

Tareq Imam (Expert)
Follow

21 August 2016 India taxes on the basis of residence if the personal is non resident. Then his income earned outside India will not be taxed in India
however his interest income will be taxed, but in this case his income in India is below taxable limit hence he is not required to file tax returns in India

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok