foreign income
This query is : Resolved
GAURAV KAWATRA
(Querist)
19 July 2011
dear sir
I want to know that i am director in my firm in london from the firm i get remunaration in london and the income is below taxable in london and in india i also have a firm in INdia in which i am partner and i get remunaration in india and Income From other sources can i have to pay tax on income earned in london and i want to know that i have to pay tax on this income and i want to know that how i have to show this income in the income tax return or this income is exempt in india or taxable.
further i want to know that i want to transfer money from london to india in my personal a/c is this ok or any problem in this.
I want to know that i am director in my firm in london from the firm i get remunaration in london and the income is below taxable in london and in india i also have a firm in INdia in which i am partner and i get remunaration in india and Income From other sources can i have to pay tax on income earned in london and i want to know that i have to pay tax on this income and i want to know that how i have to show this income in the income tax return or this income is exempt in india or taxable.
further i want to know that i want to transfer money from london to india in my personal a/c is this ok or any problem in this.
CA. Anuj Gupta
(Expert)
19 July 2011
The answer shall depend on your stay in india.
Also indian partnership firm you are allowed to repatriate amount invested as per FEMA
Anuj
+91-9810106211
anuj106@gmail.com
Also indian partnership firm you are allowed to repatriate amount invested as per FEMA
Anuj
+91-9810106211
anuj106@gmail.com
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