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Illustrations related to Residential status and scope of income

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 ?


AKHIL KOSHY

AKHIL KOSHY

CA Inter

6K+

10-Jun-20 22:18

30

Answers (4)

Taxable for all three ROR,NOR,NR under section-9


KEERTHI PRIYA

KEERTHI PRIYA

Moderator

11-Jun-20 13:59

So what if he used borrowed money out side india for business ? Will it be taxable in the hands of ROR only ?


AKHIL KOSHY

AKHIL KOSHY

CA Inter

6K+

11-Jun-20 14:15

So 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.


KEERTHI PRIYA

KEERTHI PRIYA

Moderator

11-Jun-20 14:47

Thank you so much.


AKHIL KOSHY

AKHIL KOSHY

CA Inter

6K+

11-Jun-20 21:08

Happy Mother's Day
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