Q.1 The following are the particulars of income of Sri Arun Singh for the previous year
2019-20:
(a) Profit of Rs. 50,000 from a business in Nepal deposited in a bank therein. The business is
controlled from India.
(b) Income from house property in London but received in India Rs. 1,00,000.
(c) Income from agriculture in Bangladesh received therein Rs. 75,000.
(d) Income of Rs. 60,000 from a business in Sri Lanka received in India. The business is
controlled from Sri Lanka.
(e) Rs. 80,000 brought into India out of the past untaxed profit earned in USA
Answers
Answer:
If Shri Arun Singh is Resident and Ordinarily Resident
a) Profit of from a business in Nepal ,the
business is controlled from India. 50000
b) Income from house property in London
but received in India 100000
c) Income from agriculture in Bangladesh
received therein 75000
d) Income of from a business in Sri Lanka
received in India. The business is controlled
from Sri Lanka. 60000
e) Brought into India out of the past
untaxed profit earned in USA 80000
Total Taxable 365000
If Shri Arun Singh is Resident but not Ordinarily Resident
a) Profit of from a business in Nepal ,the
business is controlled from India. 50000
b) Income from house property in London
but received in India 100000
c) Income from agriculture in Bangladesh
received therein Not Taxable
d) Income of from a business in Sri Lanka
received in India. The business is controlled
from Sri Lanka. Not Taxable
e) Brought into India out of the past
untaxed profit earned in USA 80000
Total Taxable 230000
If Shri Arun Singh is Non- Resident
a) Profit of from a business in Nepal ,the
business is controlled from India. Not Taxable
b) Income from house property in London
but received in India 100000
c) Income from agriculture in Bangladesh
received therein Not Taxable
d) Income of from a business in Sri Lanka
received in India. The business is controlled
from Sri Lanka. Not Taxable
e) Brought into India out of the past
untaxed profit earned in USA Not Taxable
Total Taxable 100000