Section 5 of ITA, 1961 : Section 5: Scope Of Total Income

Explanation using Example

Let's consider a hypothetical scenario where Mr. Sharma, an Indian citizen, is a software consultant who works for a multinational company. He is a resident of India for tax purposes.

In the financial year 2022-23, Mr. Sharma received the following incomes:

• Salary received in his Indian bank account for services rendered in India: ₹8,00,000
• Dividends from a UK-based company, credited to his UK bank account: ₹2,00,000
• Rental income from a property...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.