Dear Friends, i have a client whose residencial status is NRI for the f.y. 2012-13 & an oridinary resident for the 2013-14 .He earned 41,00,000 Rs. outside india he paid 85,000 rs tax paid outside india in 2012-13. He was working in Singapore. He arrived in india sept.2013, after that he started a new business in which he suffered loss of around 2,00,000/- Rs. He also have the housing loan form 2012-13. I intend to submit ITR for two years for 2012-13 and 2013-14. Please suggest me answers for follwing questions:
2012-13
1. Is this salary income taxable in india? Please explain why(relevant sections, notifications etc.)?
2. Which ITR form to be used? Where to download for efilling?
3. Whether his residencial home and housing loan should be disclosed in balance sheet?
2013-14
1. Whether his business losses will be carried foreward? This being a belated return.
Thanking you in advance Regards
Rajan Pandya
CAclubindia
