Income from a us based company

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Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2014 Is it ok to do normal salary based tax filing if an assessee has received compensation from a US based company for services rendered to the company, while being based in India? The company does not have any official subsidiary in India. The assessee is an employee directly in the books of US based parent company.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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01 October 2014 you cannot file ITR1. ITR2 is compulsory (assuming no business income).

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Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2014 but will this be applicable even if there is no tax withheld by the US company?

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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01 October 2014 if no Taxes have been withheld, then you can file ITR1 provided the income is in form of salary and that you have no assets (including bank accounts) outside India.

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Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2014 Great, thanks Nikhil!

Nikhil Kaushik

Nikhil Kaushik (Expert)
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01 October 2014 you are welcome......