Hi, I am an entrepreneur and travel across all GCC countries where taxes are exempted. All foreign exchange earned is transferred to my NRE account in India. I also generate revenue in India and have a separate account. Currently both revenues are being considered as income and taxes duly paid.
Is there any rule or means where the foreign income can be excluded from taxes ?
if you are ordinary resident of India, means if all conditions speicified u/s 6(1) & 6(6) are satisfied, then all the incomes earned across the world is taxable in India.
But you are eligible for relief u/s 90 of 91, where taxes on same income is paid in more than 1 country
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
View Details
Arpan Bohra & Co
Hyderabad
CA Inter
View Details
M N Rao & Associates LLP
Vijayawada
CA Inter
View Details
Fytomax Nutrition Private Limited
Aurangabad
CA Inter
View Details
Goodwin Pumps India Pvt Ltd
Chengalpattu
CA Inter
View Details
CCI
Pro
CAclubindia
