Manish Garg a non-resident during AY 2018-19 came back to India on 16th July, 2018 for settling in India permanently. Now, for the Financial Year 2018-19 his status is resident and ordinary resident of India for tax purp

Mr. Manish Garg is resident and ordinary resident during the previous year 2018-19. Now, Gross taxable income of Mr. Manish is as follows: Particulars Amounts (₹) Salary received and earned in USA from 01.04.2018 to 15.07.2018 (taxable) 12,60,000 Salary earned and received in India (taxable) 8,47,000 Dividend from an Indian Company shares received in India [exempt u/s 10(34)] Nil Rent received in USA for a property situated in USA ₹4,50,000 Less: Standard Deduction @ 30% (₹1,35,000) Income from House Property (Taxable) 3,15,000 Gross taxable Income 24,22,000 Mr. Manish Garg would be eligible for double taxation relief under DTA agreement with USA. Mr. Manish Garg has to e-file his return of Income for the AY 2019-20 with compulsory reporting of all his foreign assets and liabilities in the return form.