Taxability of resident for foreign income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2014
Hi,
my question relates to F.Y 2013-14.i returned to India in august and was therefore resident in india as per
income tax laws.
therefore,my global income would be taxable.i am providing you with following particulars
i am earning salary income.
-income in india-270000 (11-09-2013 to 31-03-2014)
income in australia-aus $ 25407 (1-4-2013 to 10-08-2013)
in australia they deducted tax of aus $ 4500.later on they granted me a refund of Aus $ 2400.therefore net tax
paid was $2100.
my question is whether i am liable to disclose my foreign income in ITR? also whether i am liable for any tax in india? if yes then what is the amount that i am required to pay assuming no tds has been deducted on my income in india?
whether double tax avoidance agreement would grant me any relief or any other relief other any other provisions??
my question relates to F.Y 2013-14.i returned to India in august and was therefore resident in india as per
income tax laws.
therefore,my global income would be taxable.i am providing you with following particulars
i am earning salary income.
-income in india-270000 (11-09-2013 to 31-03-2014)
income in australia-aus $ 25407 (1-4-2013 to 10-08-2013)
in australia they deducted tax of aus $ 4500.later on they granted me a refund of Aus $ 2400.therefore net tax
paid was $2100.
my question is whether i am liable to disclose my foreign income in ITR? also whether i am liable for any tax in india? if yes then what is the amount that i am required to pay assuming no tds has been deducted on my income in india?
whether double tax avoidance agreement would grant me any relief or any other relief other any other provisions??
Nikhil Kaushik
(Expert)
14 October 2014
1. you have to do disclose all the incomes earned.
2. for computation of tax liability in India, compute the overall tax payable and claim credit for the tax paid outside India. refer section 90 for the credit.
2. for computation of tax liability in India, compute the overall tax payable and claim credit for the tax paid outside India. refer section 90 for the credit.
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