Residential status & scope of TI

Direct Taxation

A person (Resident ) borrowed money from a Non resident . And The resident applied the money in india for the purpose other then Business/profession .When the Resident will pay interest to the Non resident Then Will the Intrest be taxable in the hands of Non resident ?

Chandan Subudhi

CA Final

★ 12K+

12-Sep-21 18:59

729

Answers (4)

If that business or profession is in India, then interest is taxable in the hands of Non resident.

Yoga Vishnu

CA Final

★ 11K+

13-Sep-21 10:39

Yoga Vishnu

If that business or profession is in India, then interest is taxable in the hands of Non resident.

Sir , in question it's mentioned Resident is applying the money in india for the purpose OTHER THEN Business/profession .

Thread Starter

Chandan Subudhi

CA Final

★ 12K+

13-Sep-21 15:30

Thread Starter

Chandan Subudhi

Sir , in question it's mentioned Resident is applying the money in india for the purpose OTHER THEN Business/profession .

In this scenario also, it is taxable as it is used in India

Yoga Vishnu

CA Final

★ 11K+

13-Sep-21 15:34

Yoga Vishnu

In this scenario also, it is taxable as it is used in India

Ok sir . Got it

Thread Starter

Chandan Subudhi

CA Final

★ 12K+

13-Sep-21 15:35