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R. P. Sahu

Income received from IBRD (World Bank)

Income (consulting fee) received from World Bank is not taxable. Can some one please let me know the applicable Section in IT Act? Thanks. more  

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R. P. Sahu
Thanks a lot. more  
SHARAD RAJORIA (CA)
Under section 10(8A) or (8B) as applicable to you. more  
Sunil Chopra
The United Nations (Privileges and Immunities) Act, 1947 provides exemption from income-tax on the salaries and emoluments paid by the United Nations to its officials. The above benefit has been extended by the Central Government to the representatives and officers of some other specialized agencies of the United Nations and international organizations. IBRD (World Bank) is one such organization. However, the exemption is available to the salary income and not income by way of consultancy services. Sunil Chopra more  
SUDHIR GUPTA
As per my knowledge fee received shall be taxable, however if one is employed by such International organisations the salary is tax free. However please check up if you were a Non Resident during the relevant period, in that case income received for services rendered outside India will not be taxable. more  
Subhasis Banerjee
Pl check Sec 10(8A) whether you could satisfy the conditions laid down there in. more  
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