Income in american doller

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2013 i am resident of india as per income tax in py. 2012-13 and received dollar salary income for special assignment in america but this doller income not included in my form 16 provided by company . is this income taxable in india? if this income taxable in india then at which date convert dollar into rupees and can we take benefit of dtaa. please guide me

Ganeshbabu K

Ganeshbabu K (Expert)
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08 October 2013 1)You can convert into indian currency as on date on which you got credit of dollors

2)If your are Resident in India your global income will be taxed in india,,and hence tax needs to be paid on amount received in dollors also

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2013 tax is already deducted in dollar income, can i take credit for this?

Ganeshbabu K

Ganeshbabu K (Expert)
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08 October 2013 If you disclose foreign income ,,you need to pay tax on it,,if tax already deducted,,you need to take refund from american tax dept showing that as you are resident in india your global income is taxable only in india.

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