Levy of tax on interest income - Status of the assessee - ...

Tax Exemption on Interest Income for Resident Not Ordinarily Resident with NRI Account u/s 5(2.

June 11, 2021

Case Laws Income Tax AT

Levy of tax on interest income - Status of the assessee - Resident but not ordinarily resident - NRI Account - Provisions of Section 5(2) are also not applicable as the amount received is received from assessee's own account outside India and no income has accrued or arisen in India. These funds were also received through banking channels with necessary statutory approvals. Therefore, assessee has proved the sources of receipts and discharged the onus. - AT

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Levy of tax on interest income - Status of the assessee - ...

Tax Exemption on Interest Income for Resident Not Ordinarily Resident with NRI Account u/s 5(2.

June 11, 2021

Case Laws Income Tax AT

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