Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Origin of Income

Vinay Jaindani (184 Points)

15 December 2021

Income earned and a rised outside India but received in India will be considered as Indian Income or Foreign Income..?

Reply
Follow
Share

5 Replies

Tanuj Chandra Saxenaa (Company Secretary) (7070 Points)
Replied 15 December 2021

Foreign income but it is taxed in India as it is receiving in India

Upgrade to CAclubindia Pro. Subscribe Now!

Vinay Jaindani (184 Points)
Replied 15 December 2021

But the person whom it is received has worked from India as freelancer for a foreign company. it will still be foreign Income ..?

Tanuj Chandra Saxenaa (Company Secretary) (7070 Points)
Replied 15 December 2021

Yes it will be a foreign income and it will be taxable in India for Indian resident

sabyasachi mukherjee (27117 Points)
Replied 15 December 2021

Incidence of taxation

income deemed to arise or accrue in india .
there are Lots of other conditions.

Vinay Jaindani (184 Points)
Replied 15 December 2021

Ok as i mentioned the assesse is resident and is working for a foreign company based outside india his income is received is INR in indian bank account so is this income is required to be declared under Schedule FSI or FA of ITR 3 or filing an ITR-4 would be sufficient also the co is not deducting any tax.