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Income from World Bank - Taxability
Would income from World bank for a Resident Indian consultant be taxable in India or exempt?
Replies (12)
Normally Income from World Bank,United Organization is exempted U/s 10.
But since it is received by resident Indian...it is taxable.
But since it is received by resident Indian...it is taxable.
attn swarnamalya ... once it is exempted, how could it be taxed? please clarify
sir I can't get you
you only stated that income from world bank exempted under section 10. then how it can be taxed and under what circumstances?
Income from World Bank is exempted provided when it is received by NRI.Since he is a resident Indian it will be taxable
under which section mam?
Exempted u/s 10
yes it is exempted U/s 10
so it technically should be taxed in the hands of Resident.
section 10 innumerable subsections... pls state subsection also
10 (8)
yes,it should be taxed
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