Is Mr$.$ Nikhil, a non$-$resident, liable to pay taxes in India for the financial year $2022-23$ based onthe following transactions:$($a$)$ He received Rs $20$ lakhs for the use of a patent for a business in India.$($b$)$ He received foreign currency equivalent to rs $15$ lakhs from a non$-$resident Indian to useknow$-$how for a business in Scotland.$($c$)$ He received rs $7$ lakhs from Reliance Industries Ltd$.$ as feel for technical services in India.$($d$)$ He received Rs $5$ lakhs from J K Industries Ltd$.$ to conduct a feasibility study for a project inBangladesh $($payment made in Bangladesh$).($e$)$ He receives Rs $8$ lakhs as interest on money borrowed by a non$-$resident for business withinIndia $($amount received in Edinburgh, Scotland.

 explain the due taxability and the reasons for the same based on the above data.

Answer rating: 100% (QA)

Answer The taxability of Mr Nikhils income in India for the financial year 202223 can be determined under the provisions of the Indian Income Tax Act ... View the full answer