NRI rental income : Rs.16000 pm
This query is : Resolved
CA Sireesh Rao
(Querist)
31 December 2009
Hi
My client is an NRI who purchased a flat in Bangalore out of his foreign remittance.
The flat will be let out for rent effective Jan '10. Rental income is Rs.16000 pm.
Currently my client has no other income.
What is the tax liability to my client. Since,the income is less than the maximum amount not chargeable to tax. Is he exempt from filing return?
My client is an NRI who purchased a flat in Bangalore out of his foreign remittance.
The flat will be let out for rent effective Jan '10. Rental income is Rs.16000 pm.
Currently my client has no other income.
What is the tax liability to my client. Since,the income is less than the maximum amount not chargeable to tax. Is he exempt from filing return?
Rakesh Jain
(Expert)
31 December 2009
Since income is below taxable limit. it is Exempted.
CA Sireesh Rao
(Querist)
01 January 2010
Thanks. But, looking at taxability, since he is not a resident,THe tax rates does not apply. Should he be paying maximum marginal tax ie.30% and education cess?
Dhirajlal Rambhia
(Expert)
02 July 2023
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