Tax on foreign income

Dear Sir,

I am in middle east for last 17 months and planning to return to India for taking up a job from next week .I plan to remain in India for an unknown period.
I have frequently visited in India but period will be at max 30-35 days in last 17 months.
Please advise if my foreign income for April ( including final settlement amount) will be taxable in India for FY 16-17 under less than 182 days clause.
Asked 7 months ago in Income Tax from Navi Mumbai, Maharashtra
Yes your income for the month of April including final settlement will be taxable in India. However, you can take credit of taxes paid in the middle East.

Please find the extract of law below:

An individual is said to be resident in India in any previous year, if he-

      (a)  is in India in that year for a period or periods amounting in all to one hundred and eighty-two days or more ; or
     
      (B)  having within the four years preceding that year been in India for a period or periods amounting in all to three hundred and sixty-five days or more, is in India for a period or periods amounting in all to sixty days or more in that year.

You are covered in clause b.

You can surely contact me for further clarifications.

Thanks and Regards
CA Abhishek Dugar
Abhishek Dugar
CA, Mumbai
766 Answers
5.0 on 5.0
  Talk to Abhishek Dugar
If you have earned that income (which you are intend to transfer) outside India while you were non resident, there will not be any tax implications.

It is advisable to create a gift deed to corroborate the transection.

Thanks and Regards,
CA Abhishek Dugar
Caabhishekdugar@gmail.com
Abhishek Dugar
CA, Mumbai
766 Answers
5.0 on 5.0
  Talk to Abhishek Dugar
Dear Sir,

Yes the income earned in the FY 2016-17 will be taxable in India as you are resident in India for a period of more than 181 days. 

Though Remittance of Income earned earlier will not be taxable. 

Trust this clarifies your query. 

Feel free to get back/ call back in case of further details. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP
Rohit R Sharma
CA, Mumbai
719 Answers
5.0 on 5.0
  Talk to Rohit R Sharma
already this conversation is going on with our colleague. Thus if any more advise u can reach us on modani005@gmail.com
Shyam Sunder Modani
CA, Hyderabad
955 Answers
4.9 on 5.0
  Talk to Shyam Sunder Modani

Ask a Question

Get tax advice from top-rated chartered accountants. It's quick, easy, and anonymous!
Ask a question

Other Questions

Chartered Accountants

Abhishek Dugar
CA, Mumbai
766 Answers
5.0 on 5.0
Shyam Sunder Modani
CA, Hyderabad
955 Answers
4.9 on 5.0
Rohit R Sharma
CA, Mumbai
719 Answers
5.0 on 5.0
Vishakha Agarwal
CA, Bangalore
213 Answers
5.0 on 5.0
Shiv Kumar Agarwal
CA, Delhi
197 Answers
5.0 on 5.0
Lalit Bansal
CA, New Delhi
75 Answers
5.0 on 5.0
Vishrut Rajesh Shah
CA, Ahmedabad
194 Answers
4.9 on 5.0
B Vijaya Kumar
CA, Hyderabad
290 Answers
5.0 on 5.0
Ria Nagpal
CA, Ahmedabad
28 Answers
5.0 on 5.0
Bhagyashree Kankaria
CA, Pune
26 Answers
5.0 on 5.0