Section 158 (formerly Section 89A) timing illustration

Screen conditional Section 158 (formerly Section 89A) facts and compare two illustrative tax-timing scenarios. This is not an eligibility determination or guaranteed tax saving.

Section 158 (formerly Section 89A) timing illustration

A conditional Form 40 (formerly Form 10EE) screen for notified retirement accounts in the USA, UK, Canada and Australia.

Country of retirement account

Current balance (USD equivalent)

Annual growth assumptionYears to withdrawalIllustrative Indian tax rateINR per USD

Eligibility factsThe account was opened while I was non-resident in India and resident in the notified country.Income from the account is taxed in that country only on withdrawal or redemption.

Scenario result

Illustrative compounding difference

₹57,76,153

Difference between tax-deferred growth and a hypothetical annual-tax model. It is not a tax saving or entitlement.

Current INR equivalent: ₹1,47,00,000
Projected balance: $309,155₹3,02,97,164 at constant FX
Illustrative tax at withdrawal: ₹46,79,149

The entered facts pass this preliminary Section 158 (formerly Section 89A) screen for the US retirement account. Form 40 (formerly Form 10EE) must be filed and the account, residency history and foreign taxation timing still need professional verification.

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