Taxability of Fees received from Asian Development Bank
This query is : Resolved
02 November 2022
I have received Consultancy fees for rendering services to Asian Development Bank(ADB).
I want to claim exemption from Income Tax.
So can I claim exemption under United Nations (Privilege and Immunities) Act 1947 as it overrides whole Income Tax Act and the UN Act grants exemption from Income Tax on salary and emoluments received from UN nations.
Headquarter of ADB is in Philippines and it is a member of UN.
So can I claim exemption under UN Act 1947?
I want to claim exemption from Income Tax.
So can I claim exemption under United Nations (Privilege and Immunities) Act 1947 as it overrides whole Income Tax Act and the UN Act grants exemption from Income Tax on salary and emoluments received from UN nations.
Headquarter of ADB is in Philippines and it is a member of UN.
So can I claim exemption under UN Act 1947?
02 November 2022
"The Government of India declares that India retains for herself and her political subdivision the right to tax salaries and emoluments paid by the Asian Development Bank to citizens or nationals of India."
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 REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Error in uploading Form 10BD
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- ITC BENEFIT ON BROKRAGE PAID
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
