Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Birender, an ordinarily resident and a financial consultant, received a
CS Professional · Advanced Tax Laws and Practice · PYQS · June 2016
Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Birender, an ordinarily resident and a financial consultant, received a fee of ₹50,000 from an Indian company carrying on business in Canada for the services rendered there. The fee was directly deposited in a bank in Canada.
Answer & Explanation:
Taxable in India: An individual, qualifying as resident and ordinarily resident in India would be liable to pay tax on his / her Global Income. Therefore, the fee of ₹50,000 received by Mr. Birender from an Indian company carrying on business in Canada for the services rendered there would be chargeable to tax in India.
Topics: Income Tax
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