Foreign remittance
This query is : Resolved
Joydev Mukherjee
(Querist)
29 March 2014
The assessee is under employment abroad and has sent remittance.... please tell me the section under which it is exempted from tax...i think 10(8A) but not sure....please clarify...
Nikhil Kaushik
(Expert)
29 March 2014
no not 10(8A). you are sending remittance to whom? to family, if yes, it is exempt under 56(2). I believe that should be the case for you.
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Joydev Mukherjee
(Querist)
29 March 2014
thank you sir...yes the remittance was sent to his family here...
Nikhil Kaushik
(Expert)
29 March 2014
then you dont have to worry at all. it is non-taxable. And always remember the remittance (within family or to your own personal account) wont be taxable.
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