Income Tax : As per Section 194-IA If property is sold by resident than buyer requires to deduct TDS at 1% on sale Value. Whereas section 195 r...
Income Tax : Section 5 of Income Tax Act says resident global income ( both earned in India & foreign) is taxable in India however the Non- Res...
Income Tax : How to claim benefit of relief under double taxation avoidance agreement by Non-Resident OR How to avoid tax of same income in two...
As per Section 194-IA If property is sold by resident than buyer requires to deduct TDS at 1% on sale Value. Whereas section 195 require deducting TDS on payment to Non-Resident at normal tax rate applies to transaction i.e. 20% in case long term held property and 30%+cess on short term held property.
Section 5 of Income Tax Act says resident global income ( both earned in India & foreign) is taxable in India however the Non- Resident’s only income which is received in India OR accrues or arises or deemed to accrue or arise in India is taxable.
How to claim benefit of relief under double taxation avoidance agreement by Non-Resident OR How to avoid tax of same income in two Country i.e. Country of Resident of Person and Country of Source of Income– In the era of greater connectivity across globe there is significant movement of manpower from one country to another and this lead to the arisen of tax issues of income earned in more than one country in single financial year.
