Hello Friends,
I have one case study to discuss. Please reply me as early as possible.
An individual working in abrod (Dubai) came back to India in April 2012. Now he wants to settle in India forever.
He received salary for March 2012 & April 2012 from his company. The amount was directly deposited to his Bank A/c in India. He also received leave salary, retirement benefits, etc.
Now he wants to advane tax for the A. Y. 2013-14. How much advance tax should he pay?
If that person is Non resident for 11-12 then for march 2012 that income is not taxable in india and for april 2012 if she stays forever as mentioned above then all such income earned after april 12 will be taxable as for normal resident indian.
For advanvce tax his income throughout the year 12-13 should exceed 10,000 and then needs to pay advance tax.
Refer section 205 to 210 of income tax act and for applicability of interest on advance tax refer section 234B nd 234C.
O P Bagla & Co LLP
New Delhi
CA Inter
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