Section for foreign income
This query is : Resolved
07 January 2012
HI,
Please let me know in which section should i show the foreign income exemption as my residential status is NRI
Please let me know in which section should i show the foreign income exemption as my residential status is NRI
07 January 2012
Such Income do not form part of Total Income.
As I know, NRI need not to show exemption under any section as the said income is not being included in the total income.
As I know, NRI need not to show exemption under any section as the said income is not being included in the total income.
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07 January 2012
Foreign income of NRI is not chargeable to tax under the provisions of Income Tax Act (Section 5)
Message likes :
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07 January 2012
So while filling the return i should not show that income in my returns
07 January 2012
You have to show -
Taxable Income & Income which is specifically exempt from Tax ONLY.
.
INCOME NOT FORMING PART OF THE TOTAL INCOME
MAY BE UNDERSTOOD TO BE DIFFERENT FROM EXEMPT INCOME AND SUCH IT IS NOT REQUIRED TO BE SHOWN IN THE RETURN BY AN NRI.
Taxable Income & Income which is specifically exempt from Tax ONLY.
.
INCOME NOT FORMING PART OF THE TOTAL INCOME
MAY BE UNDERSTOOD TO BE DIFFERENT FROM EXEMPT INCOME AND SUCH IT IS NOT REQUIRED TO BE SHOWN IN THE RETURN BY AN NRI.
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