• Individual status RNOR. Exempt income

My status for AY 2020-21 is individual Resident not ordinary resident. I have about Arshi 20 laks received as salary in SGD in Singapore received in Singapore bank and Singapore tax paid on same. I also received Arsalan 7 laks from my son as gift from his account transferred to my NOR account in India out of love.
I need to declare both in my ITR2 as exempt income. There is a drop down list for reason received. What is the nomenclature to be used ? Are my assumption in declaring above income as EXEMPT correct ?
Asked 5 years ago in Income Tax

- As the status is RNOR in F.Y. 2019-20, only indian income is required to be reported in the ITR and not foreign income. Salary income earned in singapore is a foreign income. You can show gift in ITR as exempt.  

Vivek Kumar Arora
CA, Delhi
5019 Answers
1143 Consultations

Hi

Since you are a RNOR, you are neither required to pay taxes on foreign sources income nor report such income in ITR.

So, the salary income shall not be reported.

For the receipt of gift, show it as exempt income by selecting the option 'others'.

 

Lakshita Bhandari
CA, Mumbai
5687 Answers
943 Consultations

- Write "Gift from Son".

Vivek Kumar Arora
CA, Delhi
5019 Answers
1143 Consultations

Dear Sir,

 

Hope you are doing well !!

 

You need to select others from drop down list under EI and mention gift from son.

 

 

Since you are RNOR, you don't need to report salary income.

 

Payal Chhajed
CA, Mumbai
5189 Answers
303 Consultations

"Gift from son" 

Payal Chhajed
CA, Mumbai
5189 Answers
303 Consultations

Mention it as "gift from relative" once you select others option.

Lakshita Bhandari
CA, Mumbai
5687 Answers
943 Consultations

Hi

You can select others option from Drop down list 

Mention it as gift from son.

 For Salary income you don't need to report as you a RNOR.

Karishma Chhajer
CA, Jodhpur
2452 Answers
29 Consultations

 Mention it as Gift from Son. 

 

Karishma Chhajer
CA, Jodhpur
2452 Answers
29 Consultations

Hello,

 

Being RNOR, only Indian income is taxable for you. No need to report foreign income in the income tax return.

I hope this answer satisfies your requirements.

 

Regards,

CA Hunny Badlani

Hunny Badlani
CA, Madhya Pradesh
2608 Answers
16 Consultations

OTHERS. Reason - Gift from relative.

Hunny Badlani
CA, Madhya Pradesh
2608 Answers
16 Consultations

You may declare it under Any other income in Exempt Income and mention the nature as Gift from son.

Ruchi Goel Anchal
CA, Gurgaon
525 Answers
16 Consultations

You are not required to show such gift as exempt in Indian ITR as there is no option to show it and neither it is required. Further you should have taken gift in NRE account since nro account is only for deposit of Indian income.

No need to show them as exempt as they are not covered under section 10.

 

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Naman Maloo
CA, Jaipur
4303 Answers
101 Consultations

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA