Non resident assessee foreign assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2017
IT HAS BEEN CLARIFIED THAT FOREIGN BANK ACCOUNT DETAILS NEED TO BE GIVEN BY NON RESIDENTS AND NOT ORDINARY RESIDENTS IN CASE OF REFUNDS ELSE IT IS NOT A COMPULSION.
1.WHAT ABOUT FOREIGN ASSETS OF A NON ORDINARY RESIDENT IN INDIA.
IS IT TO BE DECLARED COMPULSORILY OR VOLUNTARILY WHILE FILLING ITR.
2.IF A NON ORDINARY RESIDENT HAS A RENTAL INCOME FROM FOREIGN PROPERTY WHICH IS BEING PAID IN A FOREIGN COUNTRY ACCOUNT ,WHICH IS NOT TAXABLE IN INDIA(CORRECT ME IF I AM WRONG),DOES IT NEEDS TO BE DISCLOSED IN ITR ALSO.
1.WHAT ABOUT FOREIGN ASSETS OF A NON ORDINARY RESIDENT IN INDIA.
IS IT TO BE DECLARED COMPULSORILY OR VOLUNTARILY WHILE FILLING ITR.
2.IF A NON ORDINARY RESIDENT HAS A RENTAL INCOME FROM FOREIGN PROPERTY WHICH IS BEING PAID IN A FOREIGN COUNTRY ACCOUNT ,WHICH IS NOT TAXABLE IN INDIA(CORRECT ME IF I AM WRONG),DOES IT NEEDS TO BE DISCLOSED IN ITR ALSO.
Amol S Joglekar
(Expert)
28 July 2017
voluntarily you can declare.....no compulsion
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