Taxation of foreign income
This query is : Resolved
24 March 2015
my client is a director in a pte c o in singapore but he is not a NRI. He gets remuneration after deduction of income tax in singapore. what will be the treatment of this income I his tax returns in india and does he get any benefit out of the tax paidnin singapore. pls reply.
24 March 2015
Please see the DTAA agreement clause.
Article 16
DIRECTORS' FEES
1. Directors' fees and similar payments derived by a resident of a Contracting State in his capacity as a member of the board of directors of a company which is a resident of the other Contracting State may be taxed in that other State.
It is taxable only in Singapore and not taxable in India.
Article 16
DIRECTORS' FEES
1. Directors' fees and similar payments derived by a resident of a Contracting State in his capacity as a member of the board of directors of a company which is a resident of the other Contracting State may be taxed in that other State.
It is taxable only in Singapore and not taxable in India.
24 March 2015
If you say it is taxable in Singapore and not taxable in India. how will we show it in his tax return ? under which head of exempt income. please quote with section if possible.If the assessee uses that income here in india he will be answerable as to from where has he earned and what about the tax thereon.
24 March 2015
Show it under exempted income in the return.
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