1.A was born in Chennai but later on migrated to Japan in June 2010 and took the citizenship of that country from December 2014. His parents were born in Punjab in 1950 and his grandparent was born in undivided Bengal in 1940. He comes to India during 2020-21 for 120 days. During the earlier immediately preceding four years he was in India for total of 375 days. Determine his residential status for the assessment year 2021-22. During the previous year he received `20,000 as dividend from an American company, is it taxable in India?     2.Discuss the provision relating to income deemed to arise or accrue in India. A is a citizen of Nepal has a property in Delhi, which is on monthly rent of Rs. 20,000 he is also receiving pension from Indian Army for his services rendered Rs. 30,000 monthly. Discuss whether these are taxable in India. During the previous year 2020-21 he never visited India.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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1.A was born in Chennai but later on migrated to Japan in June 2010 and took the citizenship of that country from December 2014. His parents were born in Punjab in 1950 and his grandparent was born in undivided Bengal in 1940. He comes to India during 2020-21 for 120 days. During the earlier immediately preceding four years he was in India for total of 375 days. Determine his residential status for the assessment year 2021-22. During the previous year he received `20,000 as dividend from an American company, is it taxable in India?

 

 

2.Discuss the provision relating to income deemed to arise or accrue in India. A is a citizen of Nepal has a property in Delhi, which is on monthly rent of Rs. 20,000 he is also receiving pension from Indian Army for his services rendered Rs. 30,000 monthly. Discuss whether these are taxable in India. During the previous year 2020-21 he never visited India.

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