yashsr (CA) (2285 Points)
29 May 2012Hello,
If a person who is a British citizen but residing in India for the past 4-5 years completely but has no income in India, is he required to file return?
Obviously with the new budget, they're required to give details of their foreign assets and bank accounts.. But what about their income in the UK if they're paying taxes and filing returns in the UK? Will that income also have to be shown in India(and consequently DTA relief has to be obtained)?
PRITAM JAIN, CA , CS
(Practising CA CS)
(398 Points)
Replied 29 May 2012
As per the details given by you the concerned person is a resident and ordinarily resident therefore he has to file return in India and pay taxes after taking releif as mentioned in DTAA agreement with UK..
Manish Negi
(Expert)
(394 Points)
Replied 29 May 2012
Dear Yashsr
In new ITR you have to show your foreign assests not income.
Manish Negi
(Expert)
(394 Points)
Replied 29 May 2012
Dear Yashsr
In new ITR you have to show your foreign assests not income.
yashsr
(CA)
(2285 Points)
Replied 29 May 2012
Yes but income will also be have to shown since they're Resident, isn't this true?
PRITAM JAIN, CA , CS
(Practising CA CS)
(398 Points)
Replied 29 May 2012
showing assets outside India is an additional requirement but being a Resident and Orridarily Resident He has to file Return of Income
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
