I am an employee of an Company in Singapore & deputed in Mumbai for project related work.My company is not registered in India and is registered in Singapore. I don't get any salary nor any allowances in India from Mumbai office. I get my salary in Singapore $ and is credited in my Singapore bank account, which i remit to India online as per need. My Salary Details are as follows.
My Basic Salary : 1500 Singapore $ Allowances anywhere in the world : 250 Singapore $
Total 1750 Singapore $.
In case of any further details needed please let me know.
26 February 2008
As you are resident of India for FY 2007-08, your GLOBAL income is taxable. Therefore all of your income whether you earn n India or abroad , shall be liable to tax . However, you may claim tax relief u/s 90 of the I T Act if any tax is paid abroad.there is a double taxation avioidanece agreement (DTAA) WITH Singapore by govt. of india vide notification no GSR 610(E) DT 08-08-1994 AS AMENDED VIDE NOTIFICATION NO SO 1022(E) DT 18-07-2005. R.V.RAO
27 February 2008
How can i reconcile the tax paid in Singapore ? B'coz financial year is in case of Singapore, calendar year & in the case of India, "previous year" as defined under section 3 of the Income-tax Act, 1961?
CAclubindia
