Question

Past untaxed income brought to India is taxable in the hands of.............?​

Answer 1

Answer:

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Explanation:

esident and Ordinary Resident

Even his income from agriculture in foreign is taxable in India. This is because Income Tax Act exempts only agricultural income from India. In short, every income irrespective of place of its source is taxable in India for Resident and Ordinary Resident.

Answer 2

Answer:

Explanation:

Past untaxed income:

For Past Untaxed Income brought into India, it is believed that the individual was a non-resident at the time the income was obtained. However, it will be his income for that pertinent Previous Year if he was a resident during that year. It won't affect his salary from the previous year.

Non-resident in India:

A person is subject to tax assessment with regard to income that:

1. Is received by him or on his behalf in India, or

2. Is accrued to him in India, or

3. Is presumed to accrue to him in India.

Other points:

• First receipt in India is meant by "received in India." An income is considered to have been received outside of India if it is first received outside of India and then repatriated to India.
• Past untaxed gains are never to be taken into account when calculating current-year income.

Past untaxed income brought to India is taxable in the hands of Non-resident.

Answer: Non-resident.

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