03 August 2010
DTAA is an agreement between two countries defining the scope of taxation, where a taxpayer is subject to income tax in two countries on the same income. From Indian Income Tax perspective, Ordinary Resident (OR) will be subject to Indian Income Tax on his global income OR can claim relief / exemption, as may be applicable. Incomes not subject to tax under section 4, which can happen in case of Non ordinary resident and Non residents need not be declared to Indian Tax Authorities
04 August 2010
I agree Bansal ji.. But no columns available in ITR to report the income or to show the tax paid outside india and to report income u/s 4.
All this for Indian resident who has income outside india..
05 August 2010
My view is that there is no need to report income outside India separately. Nature of income does not change because income has arisen outside India. Similar logic applies to taxes paid outside India.
06 August 2010
Agree.. But still.. The tax calculation doesnot tally and the first hand information remains incorrect. Since no attachment is allowed with ITR we can't even justify the calculations..
CAclubindia
