21 August 2014
I want to ask that my assesse is having Australian foreign income and he wants to tranfer it to his Indian bank account. He lives in Australia from last 1 year.He already paid his tax there. So what is beneficial for him i.e to transfer that income to his own single bank account or to transfer it to multiple bank accounts? plz answer my query
21 August 2014
the amounts transferred to Indian accounts from own bank account outside India will be considered as a remittance and not-taxable in India (assuming non-resident status holds good). So doesn't matter if you transfer the whole of the amount in bank account.
21 August 2014
thank you sir but one thing more that i want confirm is that what is more beneficial for assesse i.e transfer this amount to his own bank account in india or in multiple accounts of his family member in india. And what are its pros and consequences?
CAclubindia
