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income tax liability on foreign remittance

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2010 I have a proprietorship firm in India providing services for software development. I provided service to one client in Europe and received payment in Euro on Sep 2009. What will be the income tax liability on this foreign remittance in India?
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M Prabhakar Menon

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M Prabhakar Menon (Expert)
01 April 2010 This is income from exports of services and will appear in your P & L A/c under sales
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
01 April 2010 its your PGBP income normal tax rate apply
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2010 Unable to view reply, so please provide the reply again
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2010 Thanks
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
01 April 2010 its your PGBP income normal tax rate apply
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