Income from abroad
This query is : Resolved
18 February 2011
Pl. clarify..
a)an NRI employed outside India..
getting salary. Understood that this income is not taxable in India.. (since Tax deducted and paid in the respective country)
But
b) He is getting another income which is other than the above, for which no tax is deducted or paid (income earned the other way)
Is this income stated (b) earned abroad is taxable in India.. ?
Even if DTAA is available how much he needs to pay tax.
c) Apart from the above he has income from India also..
Please clarify..!! with respect to international taxation with applicable FERA FEMA
a)an NRI employed outside India..
getting salary. Understood that this income is not taxable in India.. (since Tax deducted and paid in the respective country)
But
b) He is getting another income which is other than the above, for which no tax is deducted or paid (income earned the other way)
Is this income stated (b) earned abroad is taxable in India.. ?
Even if DTAA is available how much he needs to pay tax.
c) Apart from the above he has income from India also..
Please clarify..!! with respect to international taxation with applicable FERA FEMA
CA PARAS BAFNA
(Expert)
05 March 2011
Only Indian Income is taxable in India in the case of NRI.
*
The nature of Income received outside India will remain same, even if he has not paid taxes there.
*
NRI's Indian Income is going to be taxable.
*
(Humour)
If he has substantial black money with him he should not bring it to India.
It should be get deposited directly, into the safe havens like Swiss Banks and wait till an Amnesty.
*
*
The nature of Income received outside India will remain same, even if he has not paid taxes there.
*
NRI's Indian Income is going to be taxable.
*
(Humour)
If he has substantial black money with him he should not bring it to India.
It should be get deposited directly, into the safe havens like Swiss Banks and wait till an Amnesty.
*
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