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Status of nri property

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 July 2012 An NRI/PoI having property in India and having rental income, which is taxable under renting of immovable properties.

Now the question is,
a) is NRI/PoI is need to pay tax in India
b) In case he forms the trust and transfer the rights to the (discretionary) trust to receive the rent; whether it is taxable at the hands of trust or at NRI/PoI
c) The commercially rented rental income is more than 1 Cr. in a year; which was offered to income tax but to service tax. - what are the consequence.
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Subramanian natarajan

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Subramanian natarajan (Expert)
03 July 2012 Just approach a brilliant CA and get your problems sorted out. It is obvious it involves some tax problems regarding NRI, his
income earning properties, service tax etc. Any one earning income with rental properties needs to pay taxes. With substantial income, it needs deep tax consultations.
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