Income Tax Clarification
This query is : Resolved
24 June 2008
Suppose an Indian citizen working in indian company went abroad on 1st dec 07 for official work and came back to india on 30th nov 08.
During the stay of outside India he receives living allowance from his company to meet living and housing expendiutres per month.
He manages to save some money out of those allowances received and brings it back to india along with him.
What is taxability of that money in the hands of that resident?
Is it taxable or not? if yes under which section and provision of Income tax Act
During the stay of outside India he receives living allowance from his company to meet living and housing expendiutres per month.
He manages to save some money out of those allowances received and brings it back to india along with him.
What is taxability of that money in the hands of that resident?
Is it taxable or not? if yes under which section and provision of Income tax Act
24 June 2008
Is there any specific provision under the Act from which I can relate or any judgment.
Because under of Income tax act it was written allowance received by employee of govt of India outside india is not taxable i.e., only for indian ammbassdor and other officials.
It is specific to Govt servants.
and how this savings will be shown in Income Tax Returns
Because under of Income tax act it was written allowance received by employee of govt of India outside india is not taxable i.e., only for indian ammbassdor and other officials.
It is specific to Govt servants.
and how this savings will be shown in Income Tax Returns
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