01. The INR taxable will be euro received as converted with corrosponding conversion rate on the date of receipt.
02. In case if US firm had deducted US applicable tax then you need to take the help of DTAA of USA for relief. If they have not deducted the tax then please pay the applicable income tax as per the slab rate.
Say the conversion rate of Rs. 60. COnsidering euro 2K per month
Salary Income will be Rs. 14,40,000
So tax will be Rs. 3,81,821.00 including surchange & education cess.
Please note that you can take the benefit of sec 80C in case of investment & also benefit of housing loan interest in case you have it.
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