for a resident the tax slabs are applicable with the basic exemption limits..but wat about non residents?
in the file attatched..in the ques assessee is a non resident..wat rate of tax is applicable to her?
for the AY 07-08 she is in India only for 177 days. Therefore she is a non Resident. But income is generated(Deemed to accrue or arise) from India. So she would be liable for tax u/s 9(1)(i).
I guess(Not to sure)she would be charged at a normal tax slab rate for woman during that particular assessment year.Because the section does not mention any rate in specific.
and ya non residents are not liable for any exemptions like 80C and stuff . But 10(34) is allowed.
it is a ques from may 2007 paper and in the soln they have given tax on 267000 is 30100 + ec..dont know whr dat amt came from..
ok .... Gift from Husbands friends would be taxable above the exempt limit.... Rent receipts less Standard deduction and less Interest on loan taken.. I think that would get the answer.
ya dats rite..the taxable inc i got..i meant wat rate of tax did they apply on 267000 to get tax 30100(excluding education cess)
and yes u r rite bout non applicability of deductions too..
:) Strange .....Surcharge also wont amount to that much ...
ya dats wat..
any development on the problem?
hey ya i saw that same prob elsewhere..the solution in the earlier file was a misprint!!! :-)
in the other one they applied normal slab rate at 10%
CAclubindia
