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?
Menu
Zero coupon bonds taxability
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
Recent Topic
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
Related Topics
CAclubindia
