GENERAL KNOWLEDGE

GK

TAXES IN INDIA

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Income which accrue outside India from a business controlled from India is taxable in case of:
A
Not ordinarily resident only
B
Resident only
C
both ordinarily resident and NOR
D
none of the above
Explanation: 

Detailed explanation-1: -In case of resident taxpayer all his income would be taxable in India, irrespective of the fact that income is earned or has accrued to taxpayer outside India. However, in case of non-resident all income which accrues or arises outside India would not be taxable in India.

Detailed explanation-2: -Thus, from Assessment Year 2021-22, an Indian Citizen earning total income in excess of Rs. 15 lakhs (other than from foreign sources) shall be deemed to be resident in India if he is not liable to pay tax in any country.

Detailed explanation-3: -India-UAE DTAA And NRI Tax Implications As such, you do not have to pay taxes on your UAE income, nor will the Indian government tax you on income earned in UAE(1). Even if you travel between UAE and India frequently and spend time in India, you do not have to worry about income tax in India.

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