Tax rules for rnor ( resident not ordinary resident)

Tax planning 266 views 1 replies

 

I am working in Singapore and have NRI status from last 11.5 years. I have checked out few articles in on income tax website and understand that it will be in a RNOR category .I have not spend more than 45 days in India per year from last 10 years.

In case if I relocate back to India and sell my asset (property) and withdraw provident fund from Singapore over a period of 1-2 years. Is this  money taxable in India when transferred to India

 

Source about RNOR incometax rule

https://www.incometaxindia.gov.in/Tutorials/basic-concepts-Residential-status.pdf

https://www.incometaxindia.gov.in/Tutorials/9.%20Non-resident.pdf

 

 

 

 

Replies (1)

If you are RNOR then your income will be taxable when income is received or deemed to be received or accrued or deemed to be accrued in India

In my opinion

1. If you sold your property which is sitauted outside india & amount received outside india then profit on sale of property is not taxable in india

2. If you are PF is relating to the services rendered in singapore then received outside India then it is also not taxable in India.

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads
Loading