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Tax liability for a foreigner which is ror

01 July 2016

A foreigner who is getting some money & shares by way of inheritance out of india in FY 2015-16, Also he/she is a Resident and Ordinarily Resident in india. How will the tax liability be computed? will his/ her global income be taxable? and also what are the details we need to disclose in ITR?

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2 Replies

CA FARHAT MIYAN (CA) (40 Points)
Replied 01 July 2016

Dear,

Global Income of "Resident Ordianrily Resident" is taxable in india.

Tax Liability shall be computed as per the normal provission of Income Tax.

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Jyotiprakash karnani (CA) (32 Points)
Replied 01 July 2016

Thanks for your reply.

Are there any disclosures requirements for this, say the money or shares received in foreign bank account and interest and dividend earned out of the said money.?