Individual accounts related.

This query is : Resolved

Sumati Bengani (Querist)
Follow

31 December 2013 If a non-resident Indian is having foreign income and some income in India also, then do the foreign income be reflected in the balance sheet of the NRI (prepared in India) even though foreign income is not taxable in India.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

01 January 2014 not required to reflect foreign income in indian accounts and tax returns. only indian income to be shown.

Sumati Bengani

Sumati Bengani (Querist)
Follow

01 January 2014 That menas that individual have to prepare two separate accts one in India and the other where there is foreign income?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

01 January 2014 For a non-resident, yes. Indian accounts only reflecting indian income and global accounts based on the rules of country of residence

Sumati Bengani

Sumati Bengani (Querist)
Follow

01 January 2014 Okay, I got it! Thank You very much for your valuable response.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Akhila Ajayan

siddhesh satardekar

shreesh acharya

Amit Singh

Pushkar Nagda

Subscribe Now

Individual accounts related.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA