International taxation (DTAA)
This query is : Resolved
06 February 2020
Assessee has earned income from other source and capital gain in USA and paid tax at 10% on each (i.e on dividend income and CG)
Now question arise here as follow:
during the AY assessee is a resident in India and has a taxable income in India also and all the income including USA income briefed with example as follow:
1.Capital gain of USA after converting to INR and giving indexation benefit it is coming loss ( XX)
2.Income from other source including Indian income XX
Questions to be answered as follow
whether assessee is eligible for claiming rebate u/s 91 (DTAA) even though he has taken a indexation benefit while computing capital gain of USA in India?
Now question arise here as follow:
during the AY assessee is a resident in India and has a taxable income in India also and all the income including USA income briefed with example as follow:
1.Capital gain of USA after converting to INR and giving indexation benefit it is coming loss ( XX)
2.Income from other source including Indian income XX
Questions to be answered as follow
whether assessee is eligible for claiming rebate u/s 91 (DTAA) even though he has taken a indexation benefit while computing capital gain of USA in India?
06 February 2020
No rebate can be claimed on loss income reported.
Message likes :
1 times
06 February 2020
thank you for valuable reply sir
06 February 2020
rebate can not be claimed
.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
CAclubindia
