Tax on transfer of money from out of india
This query is : Resolved
27 November 2012
If any person goes out of India for earning of money (Doing job) and if he transfer money from out of India to India.
For period of t/f of money, he is said to be non resident. (i.e. his residential status)
Is there any Tax to be paid? If yes, is there any way for t/f of money sothat no tax will be applicable.
For period of t/f of money, he is said to be non resident. (i.e. his residential status)
Is there any Tax to be paid? If yes, is there any way for t/f of money sothat no tax will be applicable.
27 November 2012
The residential status as per income tax act depends upon number of days stay in INDIA. If this person is NON RESIDENT as per income tax act, then salary / income earned out of INDIA is not taxable in INDIA. He/she can remit as much money as is possible out of such income.
Message likes :
1 times
27 November 2012
Kind attn Mr. Amol Joglekar
Is there any restriction under FEMA for remmitance of money from salary income earned earned?
Is there any restriction under FEMA for remmitance of money from salary income earned earned?
27 November 2012
No restriction as such. Salary earned abroad, if questioned, should be proved beyond any doubt.
Message likes :
1 times
29 November 2012
Kind Attn Mr. Amol Joglekar
My question now slightly change. If person is doing job for last 2 months only (i.e. he is resident of India) then Salary Income will be taxable right? At what percentage tax will be applicable?
My question now slightly change. If person is doing job for last 2 months only (i.e. he is resident of India) then Salary Income will be taxable right? At what percentage tax will be applicable?
29 November 2012
Hiren, it is always advisable to put a new query altogether than stating the amended query.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
