Foreign Company Paying Salary In India
This query is : Resolved
Quick Summary
30 October 2023
Hello Expert, I am planning to join for a foreign (UAE Based) company as contractor from India. They will be paying in AED to directly my Indian bank account in INR based on the conversion rate for the same day.
Now, my query is under what category of taxpayer should I pay my tax and how will it be deducted.
Thanks for your help in advance.
Regards,
Deepesh
Now, my query is under what category of taxpayer should I pay my tax and how will it be deducted.
Thanks for your help in advance.
Regards,
Deepesh
30 October 2023
You will be considered as resident tax payer in India if you provide services in India. Your residential status will be considered for taxation.
30 October 2023
Hello Sir,
Thanks for your input.
Will I be considered as salaried employee only?
If I am working as contractor for foreign company as well.
Regards,
Deepesh
Thanks for your input.
Will I be considered as salaried employee only?
If I am working as contractor for foreign company as well.
Regards,
Deepesh
30 October 2023
Since foreign entity is sending money(as a consideration for your service ) directly to your bank account maintained in India, it become your income earned in India and consequently it will be taxed in India(as per the IncometaxAct,1961)irrespective of the nature of your service and residential status.
30 October 2023
If you are working as a contractor it will considered as business income.
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