I got back to India after a long stay in Singapore last year. I have a flat in Singapore, which is now on rent. Will this rental income be taxed in India?
Mahendra Kumar, Chennai
If you are holding on to your Indian citizenship and you are Indian resident, as per Income-tax Act, 1961 your global income will be taxable in India. Further, if Singapore is the source for this rental income, the country may impose its tax on the rental income in Singapore. For taxation in India, you shall be required to include the Singapore rental income while computing your total income and you can claim credit of the taxes paid in Singapore against the Indian income tax liability subject to the maximum of tax paid in India.
