Foreign Earnings
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2010
We are providing consultancy services. We have awarded a job in canada. My questions are:
1. Service Tax is applicable at the time of billing to foreign client.
2. Accounting Enteries.
3. Tax Liabilites.
4. Any Mandatory Form(s) to be submitted to any relevant authority like RBI, Income Tax etc.
Please Help Me.
Thanks,
ARUN
1. Service Tax is applicable at the time of billing to foreign client.
2. Accounting Enteries.
3. Tax Liabilites.
4. Any Mandatory Form(s) to be submitted to any relevant authority like RBI, Income Tax etc.
Please Help Me.
Thanks,
ARUN
21 October 2010
If money is being recived in convertile foreign exchange , No dervice tax.
Vendor a/c Dr.
To income A/c.
You have to pay income tax as business income.
Regarding RBI - No idea.
Vendor a/c Dr.
To income A/c.
You have to pay income tax as business income.
Regarding RBI - No idea.
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