Foreign income
This query is : Resolved
13 September 2011
sirs,
what are the things to be followed under income tax, service tax and any other tax other regulation acts to run a proprietor business taking software projects form foreign countries and getting payments from foreign through bank transfers.
the turnover of the business likely to exceed 25lacs pa.
what would be the consequences to be faced if there is no registration under service tax and filing no IT return for past 2 years
thank you
what are the things to be followed under income tax, service tax and any other tax other regulation acts to run a proprietor business taking software projects form foreign countries and getting payments from foreign through bank transfers.
the turnover of the business likely to exceed 25lacs pa.
what would be the consequences to be faced if there is no registration under service tax and filing no IT return for past 2 years
thank you
15 September 2011
Income earned in India is taxable in India if income earned in foreign country and if there is DTA the proportion amount of tax is allowed as deduction
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