Exemption for RNOR Female
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2011
If one is a RNOR (Resident but not ordinarily Resident) Female, is the exemption Rs 1,90,000 or Rs 1,60,000?
Resident Female is allowed Rs 1,90,000, non-resident is allowed Rs 1,60,000. But is RNOR considered resident for this purpose?
Clarification on this is very much appreciated. Thank you in advance
Resident Female is allowed Rs 1,90,000, non-resident is allowed Rs 1,60,000. But is RNOR considered resident for this purpose?
Clarification on this is very much appreciated. Thank you in advance
07 July 2011
GOING BY THE LANGUAGE USED IN THE FIRST SCHEDULE TO THE FINANCE ACT THE LIMIT OF 190000 IS APPLICABLE ONLY TO RESIDENTS
RNOR IS NOT INCLUDED IN RESIDENTS
CA MANOJ GUPTA'
JODHPUR
09828510543
gm2104@gmail.com
RNOR IS NOT INCLUDED IN RESIDENTS
CA MANOJ GUPTA'
JODHPUR
09828510543
gm2104@gmail.com
07 July 2011
I DIFFER FROM MANOJ GUPTA JI.
AS PER FIRST SCHEDULE OF FINANCE ACT, 2011, A RESIDENT WOMEN WOULD ENJOY EXEMPTION LIMIT OF RS. 190000/-.
RESIDENT INCLUDES ORDINARILY RESIDENT IN INDIA AS WELL AS RESIDENT BUT NOT ORDINARILY RESIDENT (RNOR) UNDER SECTION 6(1) OF INCOME TAX ACT, 1961
IN VIEW OF THE ABOVE, THERE WILL BE EXEMPTION LIMIT OF RS. 190000/- AVAILABLE TO RNOR
AS PER FIRST SCHEDULE OF FINANCE ACT, 2011, A RESIDENT WOMEN WOULD ENJOY EXEMPTION LIMIT OF RS. 190000/-.
RESIDENT INCLUDES ORDINARILY RESIDENT IN INDIA AS WELL AS RESIDENT BUT NOT ORDINARILY RESIDENT (RNOR) UNDER SECTION 6(1) OF INCOME TAX ACT, 1961
IN VIEW OF THE ABOVE, THERE WILL BE EXEMPTION LIMIT OF RS. 190000/- AVAILABLE TO RNOR
07 July 2011
Yes I agree with Mr. Krishna
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2011
Thank you all for your replies. The experts on this forum are to be commended for their willingness to help and share their knowledge and how quickly one gets accurate replies.
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