Archive · 13 Jan 2026
Zerodha Director Wins Tax Appeal
A director of Zerodha, a big trading company, won a tax case.
The tax people said he had to pay taxes on his income from Zerodha, but he said he shouldn't because he's not a permanent resident of India and there's a special agreement between India and the UAE that says so.
The tax court agreed with him and said he doesn't have to pay taxes in India on that income.
The court said the agreement covers the kind of work he does and since he's not permanently settled in India, he gets the exemption.
Vijay Mariappan Austin Prakash, a director of Zerodha, won an Income Tax appeal in the ITAT, Visakhapatnam.
The ACIT, Bengaluru, had assessed his income from Zerodha at Rs. 8,28,36,896 and rejected his claim for exemption.
Austin claimed exemption under the India-UAE Double Taxation Avoidance Agreement (DTAA).
The ITAT ruled that Austin's professional services were covered under Article 14(2) of the DTAA.
The ITAT held that Austin was entitled to the exemption as he was not permanently settled in India.
- Who
- Vijay Mariappan Austin Prakash, a founding angel and director (strategy) of Zerodha
- What
- Won an Income Tax appeal in the ITAT, Visakhapatnam, against an earlier order of the ACIT, Bengaluru
- When
- The final assessment was on December 10, 2024, and the appeal was heard subsequently
- Where
- The appeal was heard in the ITAT, Visakhapatnam
- Why
- Austin claimed exemption from taxation on his income from Zerodha under the India-UAE Double Taxation Avoidance Agreement (DTAA)
- Person
- Vijay Mariappan Austin Prakash
- Company
- Zerodha
- Income Assessed
- Rs. 8,28,36,896
- Tax Exemption Claimed Under
- India-UAE DTAA
- Appeal Body
- Income Tax Appellate Tribunal (ITAT), Visakhapatnam
- Assessing Officer
- Assistant Commissioner of Income Tax (ACIT), Bengaluru
- Final Assessment Date
- December 10, 2024
- Appeal Outcome
- Exemption granted under India-UAE DTAA