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Srinivas K
Executive
[ Scorecard : 37]
Posted On 23 June 2009 at 16:31 Report Abuse

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Hi Friends,

I received online money transfer from USA through ICICI bank around Rs.50000/- in the year 2008-09. Is that money taxable? If so under what head?

Thanks in Advance :)


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R.Suresh
Executive
[ Scorecard : 361]
Posted On 23 June 2009 at 16:35

Hi Srinivas,

Tell me what purpose u received the money from USA, without information no bady can tell that money is taxable or not

Either that money received for u given a service to USA or what purpose

please mentioned the purpose clearly, than only know that wheather it is ataxable or not



Srinivas K
Executive
[ Scorecard : 37]
Posted On 23 June 2009 at 17:22

Originally posted by :R.Suresh
" Hi Srinivas,
Tell me what purpose u received the money from USA, without information no bady can tell that money is taxable or not
Either that money received for u given a service to USA or what purpose
please mentioned the purpose clearly, than only know that wheather it is ataxable or not
"

 

Hi Suresh,

Let us assume that the money is for the services from india.

 



Prem Kumar
Articled student--Final
[ Scorecard : 332]
Posted On 24 June 2009 at 13:10

Then it will be taxable in the head of Income From business or profession






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