Income tax on foreign income
This query is : Resolved
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
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
12 June 2012
yes all of your income will be taxable in India as you are resident
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
Kindly check for the same.
Anuj
femaquery@gmail.com
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