Anand (Self) (54 Points)
08 July 2012I am an NRI who moved to India last year and staying here for more than 183 days. I have not made any other trips for many years. I understand this makes me a RNOR (resident but not ordinarily resident). So I am told I don't have to declare foreign income for two years on my India return.
I only have salary and interest income in India. I am eligible for the Sahaj form. Am I still required to use ITR2 and mention my foreign assets despite being in RNOR status?
CA sanjeev goyal
(senior excutive)
(100 Points)
Replied 08 July 2012
sir,
i think there is no need to specify the foreign assets in itr which u are held because they become ur personal assets unless u are not using them in the earning income or for business purpose they remain ur personal assets and in the itr there is no descripttion reqd in the itr at any place.
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
CAclubindia
