Regarding filing itr of nri people

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2013 Kindly suggest,

a person is residing in US from last 4 years, and had sent money from there to india, is he liable to pay tax in india, while the money sent is after paying tax to US govt?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 September 2013 In which account he is sending money. Is it NRO account or regular account. If it is in NRO account then no tax is payable and the interest is also exempted from tax and no return is to be filed

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Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2013 No the money was transferred in Saving bank regular account.

1. Kindly suggest whether this money is to be mentioned against income of the person in ITR?

2. The amount which has been transferred is lent to someone in INDIA on interest.

a. Now the received interest is exempted or not?
a. If, No, Then if it is less then 2 lakhs (i.e.
exemption limit) whether ITR is to be filed?

Pointwise reply shall be greatly helpful.

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