Foreign remittances into india - salary, tax exemption

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Tarun (Querist)
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14 May 2012 I am residing in India and I am a Chief Executive Manager in a newly formed foreign company (registered outside India). I am receiving salary in india in convertible foreign exchange from that country.
I am rendering my services to the Company from India only.
I want to know that whether there is any, tax exemption in India, for the salary received in foreign exchange and converted in Indian Rupee?

chaitanya cherukuri

chaitanya cherukuri (Expert)
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14 May 2012 No exemption is applicable to you. your total salary is taxable. if any taxes are deducted in the foriegn country then you can claim deduction for that u/s section 91 ( may be 91 A iam not sure) as per procedure mentioned in that respective section.