One of my friend has received salary in foreign country from foreign company. He remitted money to India. His status is resident indian. Whether he has to pay tax on the income from salary?
CS Shailesh Indapurkar (Company Secretary) (53 Points)
08 April 2009One of my friend has received salary in foreign country from foreign company. He remitted money to India. His status is resident indian. Whether he has to pay tax on the income from salary?
KEERTHIKA.D
(CA FINAL STUDENT)
(90 Points)
Replied 08 April 2009
FOR A RESIDENT INDIAN GLOBAL INCOME IS TAXABLE.
Vinay Chopra
(CA )
(197 Points)
Replied 08 April 2009
Global income of resident is taxable. However if India has DTAA with that country and if the assessee has paid tax on foreign salary in foreign country such will not be taxed in INdia.
CA Deepak Soni
(Chartered Accountant)
(342 Points)
Replied 10 April 2009
world income is taxable for resident individuals...... ya if there exists a DTAA between 2 countries and tax paid in foreign country .... not taxable in India as taxed outside india .....
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 10 April 2009
This amendmend came recently
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
CAclubindia
