IndigoLearn

Forums

All Topics Accountancy Auditing Corporate & Other Laws Direct Taxation Indirect Taxation Financial Management Economics Costing Strategic Management Maths & Stats Exams Others AFM Financial Reporting CFA Level I

ROI

Direct Taxation

In this example, if mr. Paras has 200,000 as interest of NR a/c and not permitted by RBI then whether it will be liable to file return ?? Plz explain..

rinky sharma

CA Inter

★ 1K+

23-Jul-21 20:53

333

Answers (4)

Hello

Munna kumar Sharma

CA Inter

★ 5

23-Jul-21 23:37

Munna kumar Sharma

Hello

Yes plz explain,..

Thread Starter

rinky sharma

CA Inter

★ 1K+

23-Jul-21 23:40

If you are assuming that Mr. Paras has not been permitted by RBI to maintain the account, then it is not exempt. After inclusion, his total income before giving deduction is more than basic exemption limit. Hence he has to file his return. All depends on the assumption.