Income tax on amount received from Foreign company outside India
This query is : Resolved
21 August 2022
Hello,
How should one file income tax on amount received from foreign company outside India.
The amount is being transferred as NEFT and there is no form provided by that employer apart from payslip.
Should I just be calculating overall amount received and show it in income from other sources and pay tax according to my slab.
Note: Employer confirmed verbally that there is no tax deducted in foreign country. So there won't be any tax credit. There is no official document to prove this.
Thanks in advance.
How should one file income tax on amount received from foreign company outside India.
The amount is being transferred as NEFT and there is no form provided by that employer apart from payslip.
Should I just be calculating overall amount received and show it in income from other sources and pay tax according to my slab.
Note: Employer confirmed verbally that there is no tax deducted in foreign country. So there won't be any tax credit. There is no official document to prove this.
Thanks in advance.
21 August 2022
Yes Calculate overall amount received and show it under salary head in ITR and pay tax as per slab rate.
Keep the pay slip and NEFT transfer details.
Keep the pay slip and NEFT transfer details.
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
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Suggestions required for income tax filing-software (FY 2025-26)
- STCG FOR GOLD ETFs
- E way bill for tractors
- LTCG for Assmt year 26-27
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
