Income tax query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2016
I am working remotely in India for a foreign company which is based in Hong Kong. I receive my salary in USD. How will taxes be levied?
My salary exceeds 10 LPA, so according to rule, service tax and income tax will be levied. My questions are:
1. How tax calculations will be there ?
2. What are the best practices to save as much tax as possible ?
3. Is there any concession to the one who is earning in USD or in any foreign currencies ?
My salary exceeds 10 LPA, so according to rule, service tax and income tax will be levied. My questions are:
1. How tax calculations will be there ?
2. What are the best practices to save as much tax as possible ?
3. Is there any concession to the one who is earning in USD or in any foreign currencies ?
01 February 2016
1 No service tax payable if you receive the payment as salary.
2 Relief can be claimed in income tax for any tax paid on such income in Hong Kong.
3 No concession for earning in USD or in any foreign currency.
2 Relief can be claimed in income tax for any tax paid on such income in Hong Kong.
3 No concession for earning in USD or in any foreign currency.
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Itr 1 processing
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
