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Zero coupon bonds taxability

Tax queries 266 views 10 replies

hai

Proceeds of zero tax bonds invested in usa by a non resident few years back and brought into india in fy 2017-18(NOW RESIDENT).What is the tax treatment in india now?

Replies (10)
That income will not be taxed in India as it is neither earned in India nor received in india.if such amount invested in India and earned any income then such income will be taxed

tq madam

if a person receives any income globally , it is  taxable in india if he is a resident know.In fy 2017-18 the person is resident of india

yes it would be taxable. if income earned in another country by a resident person DTAA agreement any with that country should also be taken into account for tax calculation purpose

tq madam

then tax to be paid or not on that zero tax bonds? while investing he was an nri and while receiving the proceeds he was a resident.

his residential status at the time of earning or receipt of income is criteria. so in my view tax should be levied

but investment should done as resident know.when he invested, he was nri and the amount which he investment was already undergone tax in usa.

if already income was taxed then DTAA provisions shall apply

YEAH.I UNDERSTOOD.BUT MY QUERY IS IS DIFFERENT.I AM NOT ASKING ABOUNT HIS SOURCE.I AM ASKING ONLY REGARDING HIS PROCEEDINGS FROM THAT USATAX SAVING BONDS.(INVESTMENTS ARE FROM NRI SOURCES AND PROCEEDS CAME TO HIS ACCOUNT WHEN HE WAS RESIDENT

is he resident only for one year or he is subsequently resident for all years???

YES.HE IS RESIDENT FROM FY 15-16 AND CONTINUES TO BE RESIDENT FURTHER


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