Investment made in bonds of NTPC in abroad but Indian company. Is Interest received from tat is taxable in the hands of Resident but Not Ordinarily Resident???
And FD made in SBI ICICI abroad. whether interest from tat is taxable in the hands of Resident but Not Ordinarily Resident???
pls mail to us randrca @ gmail.com
any income of an indian company is taxable in india... but relief can b sought if thr is a DTAA agreement between the country in which investment is made and india...
Dear Siva,
In case of RNOR - Income accrure outside India from any Business controlled in or Profession Set up in India is taxable in India..[Proviso to Sec 5(1)]
In view of the above, interest on NTPC Bonds & SBI FD will be taxable in India.....
For a Resident but Not Ordinary ...
Income earned and accued in India - taxable
Income earned and received outside India but business is controlled in india - Taxable..
so agree with Mr.Amir's reply....
Resident but Not Ordinary - Income earned and received outside India but business is controlled in india is taxable
CAclubindia
