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Income in usd taxable or taxfree

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 January 2012 1) For Tax Audit What is the Turn over limits for Consulting Engginers,

2)Consulting and Servicing in India, Payment recd in USD! it is taxable or taxfree income?

3)Consulting and Servicing in Abroad, payment recd in USD! it is taxable or taxfree income?

4)Conulting in India and Servicing in Abroad, payment recd in USD! it is taxable or taxfree income?
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
24 January 2012 1) The limit is prescribed in 44AB only since the presumptive income basis shall not be applicable..

For rest of your question please check the resident status of the person if he is resident then in all three conditions his income shall be taxable....

if he is non-resident then income at Q-3 is non-taxable and rest is taxable....

Hope you are clear...
Yogesh
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