17 November 2011
I have recd usd 10000/- *(no tax deductd) as professional fees for the period from 01/4/10 to 31/10/2011 from a London based firm in my nro account.
17 November 2011
Your income should not be taxable in India provided the London based Firm doesn't have any business in India.
The Indian Income Tax Officer can treat the amount so received in NRO(if directly received)as income but there are case laws based on which you can escape the tax liability in India.
CAclubindia
