Income earned from outside india is taxable or not ?
This query is : Resolved
09 August 2016
Here assessee is a Moulana, 30yrs old, has been teaching in Tehran University(iran) for last 8 years. His nationality is indian. Actually he went to Iran as a student & on visa it is clearly mentioned as a student but after getting degree he continued & has started teaching in University, for this Govt of Iran pays him tax free salary. I have some points:-
1) Whatever he is earning in Iran, is taxable in India or not.
2) If taxable in India, what slab rate should I take ?
3) Investment which he has made in india for his wife, himself, children like LIC, medical, education is deductibele u/s 80c & 80D or not becoz his income source is out of india.
There is one more issue.....as below...
As he is a moulana he gets some charity amount in cash in his personal account in india from indian only not outside person which exceeds Rs 10 Lac in cash in his account. I asked him to stop taking cash directly in his personal account as whole of cash is deemed to be his income then he said, people hardly release charity amount & most of them are unable to give in cheque. I want to know in that case what points should I consider to calculate, amount as charity in cash in his account is not his income. Plz advice me to make tax planning....What should I do to make income tax dept. that cash in his personal account is charity as his not a personal income.....Plz advice me..
1) Whatever he is earning in Iran, is taxable in India or not.
2) If taxable in India, what slab rate should I take ?
3) Investment which he has made in india for his wife, himself, children like LIC, medical, education is deductibele u/s 80c & 80D or not becoz his income source is out of india.
There is one more issue.....as below...
As he is a moulana he gets some charity amount in cash in his personal account in india from indian only not outside person which exceeds Rs 10 Lac in cash in his account. I asked him to stop taking cash directly in his personal account as whole of cash is deemed to be his income then he said, people hardly release charity amount & most of them are unable to give in cheque. I want to know in that case what points should I consider to calculate, amount as charity in cash in his account is not his income. Plz advice me to make tax planning....What should I do to make income tax dept. that cash in his personal account is charity as his not a personal income.....Plz advice me..
09 August 2016
1 Whatever he is earning in Iran is not taxable in India as he is non resident.
2 & 3 not applicable.
4 Cash in his personal account will be treated as his income and liable for tax payment and return filing for that income.
2 & 3 not applicable.
4 Cash in his personal account will be treated as his income and liable for tax payment and return filing for that income.
12 August 2016
thanks a lot sir.....plz advice more.
1) His income is taxable or not in case every year he comes india to stay 2 to 3 months with his family.
2) In last 2 years he received in India from Indian only more than Rs 8 lac as charity in cash in his personal account. Is there any option to make assessing officer satisfy that income above belong to charity not his personal income.
Plz throw the light of your knowledge......
1) His income is taxable or not in case every year he comes india to stay 2 to 3 months with his family.
2) In last 2 years he received in India from Indian only more than Rs 8 lac as charity in cash in his personal account. Is there any option to make assessing officer satisfy that income above belong to charity not his personal income.
Plz throw the light of your knowledge......
12 August 2016
1 not taxable.
2 You are not supposed to receive charity income in your personal ac.
2 You are not supposed to receive charity income in your personal ac.
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29 August 2016
Seetharaman ji, Which ITR Form is applicable in his case...? I am going to file his return but confuse which ITR should I choose...
29 August 2016
File ITR 1 showing charity amount received as other income and pay tax on it. Income earned out side India is exempted income.
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