Taxation of transactions in nro account
This query is : Resolved
20 March 2018
sir one of my client went to australia on study purpose and he earned some income there for ay 16-17 & ay 17-18.
He transferred those amounts to nro account.
i need how to show those transactions in computation of total income or whether they are taxable or not.
upto ay 15-16 he was in india.
I need your suggestion.
He transferred those amounts to nro account.
i need how to show those transactions in computation of total income or whether they are taxable or not.
upto ay 15-16 he was in india.
I need your suggestion.
K Srinivas, CMA CS
(Expert)
20 March 2018
Income abroad should be credited in the NRE account so that no tax will be applicable
K Srinivas, CMA CS
(Expert)
20 March 2018
Depends on his residential status during the above year when the income is earned abroad. If not a non resident, then he has to pay tax on that income
Nikhil Kaushik
(Expert)
20 March 2018
as long as the tax residency status is Non-resident and the amounts have been credited from his accounts in Australia to his NRO account in India, there is no taxability in India
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