Taxation of transactions in nro account
This query is : Resolved
20 March 2018
sir one of my client went to australia on study purpose and he earned some income there for ay 16-17 & ay 17-18.
He transferred those amounts to nro account.
i need how to show those transactions in computation of total income or whether they are taxable or not.
upto ay 15-16 he was in india.
I need your suggestion.
He transferred those amounts to nro account.
i need how to show those transactions in computation of total income or whether they are taxable or not.
upto ay 15-16 he was in india.
I need your suggestion.
20 March 2018
Income abroad should be credited in the NRE account so that no tax will be applicable
20 March 2018
Depends on his residential status during the above year when the income is earned abroad. If not a non resident, then he has to pay tax on that income
20 March 2018
as long as the tax residency status is Non-resident and the amounts have been credited from his accounts in Australia to his NRO account in India, there is no taxability in India
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