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Illustrations related to Residential status and scope of income
Direct Taxation
Q.no 14 (h) Suppose interest received in London of money lent to a resident in india in london, brought to india AND if the payor (resident)used borrowed money in india Will it be not taxable in all 3 case (ROR,NOR,NR)? Or Only taxable in ROR ?
Answers (4)
Thread Starter
AKHIL KOSHYSo what if he used borrowed money out side india for business ? Will it be taxable in the hands of ROR only ?
Yes, Taxable for ROR, if business is controlled from India then both ROR and NOR -Taxable.
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