Taxability of income earned outside india

9810 views 4 replies

Hi,

Can someone plese advise on the taxability of Income for the AY 2013-14

Resident in India for past 26 years. 

Income Earned as Salary Income in India employed in Indian Organstion for the period 1st April 2012 - 20th Feb 2013 and stayed in India.

Left the country for the first time on 21st March 2012 to take employment abroad. And resumed the new job w.e.f 24th March 2013. Salary earned for the period of 24th March to 31st March 2013 received on 25th April 2013 from the organisation situated at abroad. Ownership and management is outside India by Non-Resident Company

Whether the Income earned as salary  from the new organisation for the 24th March - 31st March 2013, will be taxable in India as salary Income ??

 

Hoping for an early respone.

 

Thanks & Regards

Ronit

 

Replies (4)

for resident even foreign income is also taxable,to be a resident the following conditions to be satisfied

a)stayed in india for a period of 182 days or more during current financial year

                                                  or

b)stayed in india for a period of 60 days during current financial year and has stayed in india for a period of 365  days out of  immediatly four previous financial year

in ur case,during financial year you doesnot stay in india even for a period of 1 day.so u r non resident.for non resident foreign income is not taxable

so ur income is exempt from indian income tax act 1956

 

yes it is taxable for financial year 2012-13 as u r resident as per it act 1956 and salary income is taxable on due or receipt basis which ever is earlier

furthur clarification

we have two segments

resident and ordinary resident  AND resident and not ordinary resident

for a resident and ordinary resident,even income accrue or arise outside india from a business controlling from outside india(foreign income) also taxable

who is resident and ordinary resident

a person who is resident atleast for 2 years out of 10 preceeding previous years

                                                         and

a person who stayed in india for a period of 730 days during 7 preceeding previous years

as the above person satisfies both the conditions,he is resident and ordinary resident

hi ronit,

yes the income for whole year shall be taxable as the assessee is ROR for the said financial year and his/her global income shall be taxable.

yes, the income earned by a resident and ordinarily resident global income is taxable.

Here as the person is resident of india for f.y 2012-13 the income earned during the period march 24th to 31st 2013 is also taxable.

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