CHIRAG DEEPAK GANATRA (CA FINAL) (1054 Points)
27 August 2011Please Tell me
My one Client is NRI & He has Investement in MF Through NRE & NRO Account, So Whether Gain on sale of MF In both
NRE & NRO A/c Are TAXABLE????
and also say me Redevelopement Rent are Chargeble to Income From House Property in Statement of Total Income Under Rent Income>>>>>>
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 27 August 2011
Since under sec 10(38) ther is no specifice exclusion for exemption for NRI's in ma view exemption is availiable provided dat suc other conditons as mentioned in dat sec is fulfilled.
FOR any income to be chg under house property head ther has to landlord tenant rel and such income should be due to it, mere name will not suffice so check wther der is any rent agrrement made bet dem, if yes den its chg under house property head.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
