22 March 2012
One of my client doing software business in India as a proprietor and He is is doing software development in India & job received from USA and He raised the invoice USA COMPANY and he got the money (as US Doll er) Now my question is in this case Income tax is applicable Or exempted? Please clarify me sir.
23 March 2012
Your client is covered under meaning of resident and income arises to an individual who is resident exceeded the exemption limit is liable for tax, so that in your case income tax is applicable.
24 March 2012
Thanks sir, And I have need to one more clarfication sir . suppose The client is Rgisterd in STPI afterthat Income tax Expemtion avilbable? .Proprietor Can apply STPI? Please clarify sir
CAclubindia
