For the Assessment year 2021-22, Shankar is a non-resident in India. From the information given below, find out his income chargeable to tax for the Assessment year 2021-22: (ii) Income from a business situated in Sri La

CS Professional · Advanced Tax Laws · PYQS · December 2021
For the Assessment year 2021-22, Shankar is a non-resident in India. From the information given below, find out his income chargeable to tax for the Assessment year 2021-22: (ii) Income from a business situated in Sri Lanka (goods are sold in Sri Lanka, sale consideration is received in Sri Lanka but business is partly controlled in Sri Lanka and partly in India) ₹3,25,000.

Answer & Explanation:

Computation of Taxable Income of Mr. Shankar (Non-Resident) for AY 2021-22 Particulars Amount Income from a business situated in Sri Lanka, partly controlled in India. (This income is taxable in case of Resident and Ordinarily Resident (ROR) and Resident but not Ordinarily Resident (RNOR). Since, Mr. Shankar is non resident, the same will not chargeable to tax in India) Nil

Topics: Income Tax

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