Foreign remittances - individual.


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Querist : Anonymous

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Querist : Anonymous (Querist)
10 September 2013 Hi! One of my friends works in India but income has been received from a foreign country's account. Do I need to obtain any documentation in this regard?

10 September 2013 unless it is a case of non-resident (where DTAA may apply), normal tax provisions should apply. you should have on record Form 16/16A.

Ajay Mishra (Expert)
11 September 2013 Agree with Expert opinion......

He will be taxable in India.

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 September 2013 What is KPO(Knowledge Process Outsourcing. I have heard that this income is 100% tax free. Can I take my friend's income as KPO

11 September 2013 Dear Anonymous,

KPO is an entity providing knowledge related processes to companies/individuals but it is not at all necessary that they provide such services outside India.

The taxability of a KPO shall depend on the source and type of income. Therefore it shall be totally wrong to say that KPOs are 100% tax free.

Further, if I am not mistaken, KPO are supposed to be registered with several authorities.

So, conservative advise, please work on tax planning and leave tax evasion to crooks.






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