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Regarding ITR1
salaried person has 5 months of Indian income and 7 months of foreign income for f.y 2019-20. In 26 AS only 3 months salary has been updated. We need to show only that income which is reflected in 26 AS or we need to show foreign income also????
Replies (8)
Can you describe his or her residential status of that year all little bit more elaborate
Resident and ordinary resident
Sorry but what is ordinary resident
and source of income for foreign salary
and source of income for foreign salary
In residential status, resident and ordinary resident means he satisfies total conditions specified. Foreign income is taxable in hands of ROR.Whether I need to show that income or not in ITR
A resident and ordinarily resident is taxable on worldwide income
sorry as I got confused with your above of above explaintion
sorry as I got confused with your above of above explaintion
Yes you need to show all income whether it is indian or foreign if residential status is Resident and Ordinary Resident
You take the salary as per bank statement
as 26As is not complete d
as 26As is not complete d
As per the Income Tax Act if any person is resident in India then his global income is taxable in India.
And if a person is a Non - Resident only Indian Income is Taxable as per the Act.
A person is a Resident of India if he satisfies any one of the BASIC CONDITIONS
CONDITION 1: Stay in India for 182 days or more in the previous Financial Year. OR,
CONDITION 2.: Stay in India for 60 days or more in the previous financial year AND 365 days or more in the last 4 Previous Years.
For any further query mail at priyamunot96 @ gmail.com
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