Double taxation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2014
Currently I am working for a small BPO as a senior level manager.The Indian co. is fully owned by a US based Insurance Company whose shares are almost entirely owned by a single individual Dr.A. My company (both US and India) has now been acquired by a bigger company in US. Dr.A out of gratitude for the employees who have been with him (both in US and India) since inception has agreed to pay a fixed sum from the sale proceeds of the company. My worry is about taxation aspect for employees in India. Dr.A is paying this money in his individual capacity and not through the company. Will this amount that we would be receiving be treated as a gift from Dr.A since we do not have a contractual relationship with him ? Will this amount be subjected to tax both in India & the US ? Thank you for your valuable time and suggestions on how tax can be minimized ?
12 April 2014
if you working in india then you are liable to tax on his earing in india.
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