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: Girish, a resident, brought to India, his income earned in 2010-11 in S
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: Girish, a resident, brought to India, his income earned in 2010-11 in Sri Lanka which was not taxed in Sri Lanka.
Answer & Explanation:
Not Taxable in India: Since, the Income accrued and received during the year 2010-11 and not during the previous year i.e. 2015-16 and therefore not taxable in India during the previous year i.e. 2015-16. Further, the subsequent remittance of the fund to India would not be deemed to be received in India.
Topics: Income Tax
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