Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

Posted abroad and its tax implications

Nits (Article Assistant) (28 Points)

14 July 2015

Hey Folks

I have been posted to US HCL from Nov 2014 onwards and have the new appointment letter and salary there , So for the FY 2014-15 i have acquired the status of ROR. i just need to confirm whether the salary i am receiving in US is liable to tax in INDIA for the FY 2014 -15, If yes please provide the relevant section reference along with your answer.

Please confirm the ITR i need to file for tax on salary from april 2014 to Oct 2014. Also confirm if i have taken the home loan whether i will be able to get deduction for complete 12 months or just april to oct.

Regards

Reply
Follow
Share

2 Replies

CMA Poornima Madhava (CMA) (13112 Points)
Replied 14 July 2015

It is taxable in India: https://www.incometaxindia.gov.in/_layouts/15/dit/Pages/viewer.aspx?grp=Act&cname=CMSID&cval=102120000000041626&k=&IsDlg=0.

U need to file return in ITR2A or ITR2 (as applicable) as u might be claiming relief u/s 90 for double taxation.

I think u can claim deduction of interest on housing loan up to Rs.2 lacs as SOP u/s 23(2)(b) if the same is not let out during the whole year.

Nits (Article Assistant) (28 Points)
Replied 24 July 2015

What if the person files his normal return and there is difference of Rs Approx 1lac from last year income .... what are the chances of getting caught by IT deptt