Hi All,
Plz help to solve this query.
A Non Resident Indian engaged in Forex Trade in Singapore.He earns income and pays tax as per the country's Tax laws.
He sends some of the earned amount to India.Is he liable to pay any Tax in india,on the money transferred ??
Not taxable. However, if he earns any income out of the transferred amount it becomes his Indian Income and will be taxable under his head.
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agree with mr pravin
"Not taxable. However, if he earns any income out of the transferred amount it becomes his Indian Income and will be taxable under his head."
i agree wit this...
The taxibility arise when he received said money directly in India
Assuming he is a 'non resident' as per the I.T Acts-
As per section, 5(2) it will not be taxed in India.
Moreover there is no tax liability on remittance to india.
therefore, no taxes.
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