Pension from Uk
This query is : Resolved
16 July 2011
I have opened a account in SBI Uk. My pension earned from UK goes into this account. From this a/c certain amount goes to my RFC a/c in india. Is this pesion income both in uk a/c and rfc a/c taxable or taxfree in my IT return?
16 July 2011
Pension accrued and received outside India is not an Indian Income.
Such Income is taxable in India in case of Ordinarily Residents only. However rebate may be taken of taxes paid in the country of origin.
*
In case of NRI and NOR it is not taxable.
*
After receiving the pension in UK a/c where ever it goes, it is deemed as remittance and such it does not become taxable.
*
Such Income is taxable in India in case of Ordinarily Residents only. However rebate may be taken of taxes paid in the country of origin.
*
In case of NRI and NOR it is not taxable.
*
After receiving the pension in UK a/c where ever it goes, it is deemed as remittance and such it does not become taxable.
*
25 July 2011
I presume here that Mr. prabhat that you have become Indian resident and are receiving pension from UK for services rendered in UK.
Pension received by resident of India is taxable in India.This is as per section 5 of the I T Act.
Also as per Double Taxation Avoidance Agreement signed between India and UK , pension received in UK from UK company/organisation based in UK is taxable only in INDIA
However Pension given by UK GOVERNMENT in UK to a resident of India is subject to tax according to UK tax laws.
Anuj
+91-9810106211
femaquery@gmail.com
Pension received by resident of India is taxable in India.This is as per section 5 of the I T Act.
Also as per Double Taxation Avoidance Agreement signed between India and UK , pension received in UK from UK company/organisation based in UK is taxable only in INDIA
However Pension given by UK GOVERNMENT in UK to a resident of India is subject to tax according to UK tax laws.
Anuj
+91-9810106211
femaquery@gmail.com
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Transporter Declaration form
- FORM 26A APPLICABILITY
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
