Foriegn salary and itr
This query is : Resolved
21 June 2012
Hi Experts,
Please guide how to include foriegn salary recevied for 3 months in Australian dollars ina foriegn bank account. components of the salary are:
1) Base Hourly
2) Initial Allowance
3) Advance Repayment
4) Health Insurance
5) LAHFA(Living Away from home allowance)
6) Paid By India
7) PAYG Withholding (I guess it is TDS in Australia)
8) Superannuation Gurantee
Assessee is Resident for Income tax purposes.
Please guide how to include foriegn salary recevied for 3 months in Australian dollars ina foriegn bank account. components of the salary are:
1) Base Hourly
2) Initial Allowance
3) Advance Repayment
4) Health Insurance
5) LAHFA(Living Away from home allowance)
6) Paid By India
7) PAYG Withholding (I guess it is TDS in Australia)
8) Superannuation Gurantee
Assessee is Resident for Income tax purposes.
CA CS Amit S. Kedia
(Expert)
21 June 2012
You will have to file ITR 1 if there is no other income except interest income.
The amount will be converted into INR at the rate prevailing at the time of receipt of salary.
The amount will be converted into INR at the rate prevailing at the time of receipt of salary.
Message likes :
1 times
21 June 2012
Thank you Amit for ur reply, but I wanted to ask which of the component will be merged to Indian salary.
(I am asking this because I have a doubt on some items whether they should form part of salary for example item no 5 Lahafa which is just like HRA in India)
Also if possible tell me the treatment of Item no 7 which is TDS in Australia.
(I am asking this because I have a doubt on some items whether they should form part of salary for example item no 5 Lahafa which is just like HRA in India)
Also if possible tell me the treatment of Item no 7 which is TDS in Australia.
CA CS Amit S. Kedia
(Expert)
21 June 2012
You will get the benefit of tax paid in australia under double tax avoidance agreement.
item no. 5 is also part of salary as amount received from employer is taxable under salary income.
item no. 5 is also part of salary as amount received from employer is taxable under salary income.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- Applicability of tax on invoice
- Form 144 TDS Return Validation error
- TDS- 2026-27 Q1 Correction
- Rent agreement of House of deceased person
- Advances to related party
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
