173. Income tax filling by British OCI holder in India

Q: I am a British citizen with OCI. I also have some income in India from investments made in India by some money which i received by selling a property which had been gifted to me. At the moment i have a CA in India who files a tax return for my income from India and i also pay income tax separately in UK. Is this the right arrangement to pay the tax in the respective countries where it is generated from even though I am not living there? Thanks PT A. UK residents are taxed on their worldwide income. Unless you are declaring your Indian income when filling UK taxes you may have a problem. UK and India do have a double taxation avoidance agreement so you would get credit for taxes that you have already paid in India. Your CA should be able to guide you better in this regard.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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173. Income tax filling by

British OCI holder in India

Q: I am a British citizen with OCI. I also have some income in India from investments made in India by some money which i received by selling a property which had been gifted to me. At the moment i have a CA in India who files a tax return for my income from India and i also pay income tax separately in UK. Is this the right arrangement to pay the tax in the respective countries where it is generated from even though I am not living there? Thanks PT A. UK residents are taxed on their worldwide income. Unless you are declaring your Indian income when filling UK taxes you may have a problem. UK and India do have a double taxation avoidance agreement so you would get credit for taxes that you have already paid in India. Your CA should be able to guide you better in this regard.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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