Hello Sir, I am NRI for many years and working in UAE but now due to my personal matter, I have to visit india and stay for more than 182 days though I am employed overseas with my intention to go back. Please inform tax treatment of my Income if my RESIDENT STATUS is as follows :-
IT ACT FEMA
1996~2014 NRI Employed overseas
2014~2016 RNOR Employed overseas *Stayed more than 182days/each year in India
2016~2017 NRI Employed overseas
2017~2018 RESIDENT Employed overseas *Going to stay more than 182 days in India.
My question is, though I am PERSON RESIDENT OUTSIDE INDIA (As per FEMA act) but for time being about further 2-3 years I will have to visit and stay more than 182 days in India for my personal matter (Not for business or Job) and I do got my job (overseas) and holding employment/resident visa of UAE and I have intention to go back, once my personal matter in India settle down.
So under these circumstance, what will be tax treatment of my Income for FY2017~18, which is as follows :-
A.Salary in UAE Inr24,00,000 *(I get from uae resident employer in my uae account)
B.Interest on NRE FD Inr18,00,000
C.Local rent Income Inr 2,00,000
Total Inr44,00,000
My questions are :-
1. Do I have to file Income tax return ? if above A and B income is not taxable.
2.Salary in UAE : Do I have to declare under my Global Income and will it be tax free under INDIA/UAE DTAA article 15(a) ?
3.Interest on NRE FD : Will it remain tax free under IT section 10(4)ii ? *(which says if a person is resident outside india under FEMA than this income going to be tax free.) and do I have to declare in my income tax return.
Requesting you to please reply after reading INDIA/UAE DTAA article 15(a) and IT section 10(4)ii or quote any other section and not just with your own idea, which going to matter to my tax liability/treatment.
Thanks in advance.
Regards Prakash
CAclubindia
