Poonawalla fincorp
Poonawalla fincorp

Tax on foreign remittances

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 October 2011 Dear Friends

I am Babu from Chennai. My brother is working in South Africa and he is depositing his Dollar salary in my savings account.He never filed his IT returns in India. He employed there recently four months back in June'2011.
Now my doubt is what is the tax implication on his remittances to India.
Thanks in advance
BABU

12 October 2011 No tax implications.

Anuj
+91-9810106211
femaquery@gmail.com

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 October 2011 Dear Sir
Thanks for your response. I understood that there is no tax on this income for my brother. But my worry is since it is deposited in my account what about tax implications on me.
Thanks in advance
babu


12 October 2011 No tax implications on you provided tax is paid in SA.

Anuj
+91-9810106211
femaquery@gmail.com

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 October 2011 Dear Mr.Anuj
Thank u very much.



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