Nri income
This query is : Resolved
ABDUL VAJEED
(Querist)
12 January 2012
Hi all . suppose nri who was abroad for many years and returns india and wants to file return here for the last year then can he declare the foreign income here . he earned income in dubai and did not pay any tax there . will i have to refer dtaa ? he wants loan so he wants to declare his foreign income here for the last year . so what to suggest him ?
O.D.SHARMA
(Expert)
13 January 2012
Hi,
Income earned in the UAE is not taxable but NRO/Indian intrest earned is only taxable.So the income earned in India can be part of Return.
Income earned in the UAE is not taxable but NRO/Indian intrest earned is only taxable.So the income earned in India can be part of Return.
ABDUL VAJEED
(Querist)
13 January 2012
Thanks
But can he delare his foreign income and show it as exempted ? because he wants loan ?
But can he delare his foreign income and show it as exempted ? because he wants loan ?
O.D.SHARMA
(Expert)
13 January 2012
Dear,Why he want loan.If you need take loan against the NRE Fd's/NRO FD's .Those are best options.You can discuss the detailed issue thru' odsharma_2005yahoo.co.in'
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