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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
