The income earned in the previous year is taxable in the assessment year. And past untaxed profit does not form part of the previous year income, so it cannot be taxed.

Sir Iyerji

Online marketing

61 Points Joined October 2017

Lot of here ...

1. assesse was never a NRI before or not ?

2.only India resident and earned this foreign income via online /consulting/share trading in the foreign markets etc?

3. A resident with no NRE account will bring in this "past income from abroad " via TT /SWIFT in to his saving account ? (or other modes?)

4. any "large "incoming SWIFT/TT from abroad in to a domestic rupee account (with forex conversion in to rupee)may raise scrutiny from IT/ ED under FEMA

5. my guess is if the resident earned this Past foreign income with out leaving India - it is taxable at the current year (when repatriated in to the bank account.)

6. He may have to documentation -how he earned this foreign income in the past ? (foreign bank account statement/ foriegn brokerage stock market statement/ consulattion -service rendered invoice raised on a foreign company against which payment received).