Residential status & chargeablty of tax
This query is : Resolved
02 February 2011
Mr X is retired from indian company on 30th march 2010,till retirement he never visited to any please out side india. In the month of april he went to abroad for 1st time,there he take one lottery ticket & won a prize of Rs 10 crores. On 7th may he met with an accident and he died.What is his residential status for assessment year 2011-12,if he is non resident then will entire income of Rs 10 crores is not taxable as per income tax act 1961. please explain briefly.
02 February 2011
for A.y. 2011-12 He is non-resident hence Rs. 10 Crores are not taxable in his hands in India but it could be taxable in that country where he won lottery.
Because he did not fulfilled conditions either of the basic conditions therefore he is non-resident for a.y. 2011-12.
Regards!!!
Because he did not fulfilled conditions either of the basic conditions therefore he is non-resident for a.y. 2011-12.
Regards!!!
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Sec 44ada applicable only or both
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Taxability of Partnership firm for FY 2025-26
- RATE AND HSN CODE
- Portuguese Civil Code IT Return
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
