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Foreign income of resident

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I am a resident and i have earned income from business in dubai. Where do i have to disclose this income in ITR4 and what are the other disclosure requirements.Also i have not maintained any books of accounts in dubai.

Replies (2)

The income earned from business in Dubai will only be taxable if you are Resident Ordinarily Resident of India during the relevant A.Y.

It will be shown under the head PGBP and the details of Business will have to be disclosed, like the address and the activities so carried out.

Further details of Bank account maintained over there should be furnished.

Maintenance of books of account not relevant while filing ITR. It is a matter to be looked after in case your return is selected for scrutiny.

You should be handy with the Bank Statements and the challans of Taxes if paid in Dubai (Although Dubai is a tax heaven country)

Ok Thanks Gyati and am i liable to pay advance tax on income from foreign operations?


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