Taxability of Salary Income
This query is : Resolved
03 November 2008
For instance "A" is working in software company. He is sent on depution to US where he receives his salary there & say a porion here. Salary portion received in India is taxable as per the IT Act but how is the US income treated & taxed in India assuming that tax is paid in US for the income earned in US.
03 November 2008
Please check first days in India in PY
03 November 2008
Assuming that he is resident indian, never went out of india earlier.
03 November 2008
If he is resident Indian he is taxable in India also for the salary received in US, but relief under Double Taxation Agreement executed buy India with US is available for tax paid in US.
03 November 2008
Can you kindly illustrate this with any example pls.
03 November 2008
Why don't you give the figures as the figures are known at your end.
03 November 2008
it was only a hypothetical q i asked. however let us assume that
A get 180000 p.a. as salary in india; tds deduction made as per the law & 55000 US $ & TDS for the same being 16500 (assumed @33).
How is Income from salary & tax computed in India.
A get 180000 p.a. as salary in india; tds deduction made as per the law & 55000 US $ & TDS for the same being 16500 (assumed @33).
How is Income from salary & tax computed in India.
04 November 2008
Convert this USD 55000 in INR on the respective date of receipt. Calculate tax as per Indian IT Act and claim DTA credit for USD 16500 in the return filed.
04 November 2008
Does this mean that i need to convert at closing exchange rate at the end of each & every month.
Also will the Form 16 reflect all this ?
Also will the Form 16 reflect all this ?
08 November 2008
.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
CAclubindia
