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Income tax on foreign income

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This query is : Resolved

Sumeet (Querist)

11 June 2012 I will be getting employed by a foreign company (Oman based) which will be paying me a salary to an NRE account. They will be issuing me a work permit. Plus I will also hold a 15% stake in the foreign company. I will not be leaving India and will be staying in India most of the time and visiting Muscat/Dubai on work a few days every month.

Will my salary in foreign remittance be liable to be taxed in India? Also will bonus/dividends from shares in foreign company be liable to be taxed in India?

The foreign company in Oman is of the opinion that my salary will be tax free in India. Please can someone illuminate?

Best Regards,
Sumeet

Ca Anand Dubey

Ca Anand Dubey (Expert)

12 June 2012 yes all of your income will be taxable in India as you are resident

CA. Anuj Gupta

CA. Anuj Gupta (Expert)

13 June 2012 As per FEMA there are restrictions on an individual holding shares in foreign entity.

Kindly check for the same.

Anuj
femaquery@gmail.com

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