What is (financial interest on entity on assest

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Haider Naqvi (Querist)

12 November 2014 As I do self study of Income tax. I am going through a chapter where I can't get a para as mention " report u/s 92E & form 3CEB will be submitted by 30 Nov of assessment year" if someone has property outside India (financial interest on any entity). what doesn't it mean financial interest on entity?

Thx..

Amol S Joglekar

Amol S Joglekar (Expert)

12 November 2014 financial interest in any entity outside India....what is your difficulty in that?

Haider Naqvi

Haider Naqvi (Querist)

13 November 2014 Amol ji. My difficulty is that. I am unable to understand this sentence meaning.

Amol S Joglekar

Amol S Joglekar (Expert)

17 November 2014 Say Infosys India is having a subsidiary in USA.
Infosys India shall be regarded to be having financial interest in Infosys USA.
What else?

Haider Naqvi

Haider Naqvi (Querist)

18 November 2014 The same example if An assessee who has assests out side india.

Amol S Joglekar

Amol S Joglekar (Expert)

18 November 2014 yes, you can go ahead with that.

Haider Naqvi

Haider Naqvi (Querist)

18 November 2014 Ok. Now I got it.....Actually I do self study from the income tax book. Some times I get trapped in understanding meaning. That's why I asked for this.....Thax a lot..

Amol S Joglekar

Amol S Joglekar (Expert)

18 November 2014 No problem. You can always clear the doubts. The doubts cleared at an early stage are very beneficial...All the best for your self study.

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