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NRE INCOME

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SIR,

A PERSON HAVING BUSINESS IN FEW OVERSEAS COUNTRIES. HE IS THE PROPRIETOR OF ALL OF THEM.,

BUT HIS BUSINESS MANAGED BY EMPLOYEES, HE IS MORE THAN 220 DAYS LIVES IN INDIA, ALL HIS INCOMES ARE DEPOSIT MONEY IN TO HIS INDIAN BANK ACCOUNTS, 

IS THESE AMOUNTS ARE CONSIDERED NRE INCOME OR NOT? 

Replies (1)
If the asssesse is Resident and ordinarily resident his global income will be taxable in India and if any tax paid outside india same will be allowed as deduction as per DTAA. Deeming the same in the above case .


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