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Nri income

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(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 ?
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O.D.SHARMA

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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.
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ABDUL VAJEED

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ABDUL VAJEED (Querist)
13 January 2012 Thanks

But can he delare his foreign income and show it as exempted ? because he wants loan ?
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O.D.SHARMA

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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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