It applicability on income earned in india and germany.

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VENKAT (Querist)

12 March 2018 Hi, I am a salaried employee in India I earned of Rs 8 lakh till Sep'17 after TDS. I went to Germany on 1st Oct'17 for onsite and I am getting salary in euro after TDS. As per my understanding I am resident for this year and total income is taxable in India, I can adjust the tax paid in Germany under DTAA. Please help me in the following points - 1) provide the procedure of currency conversion calculation for filling IT returns in India. 2) Which ITR form to be used for filling of returns. 3) What are the documents to be collected. 4) What are deductions are allowed like..HRA, Medical reimbursement, LTA, u/s 80 and chapter IV A, etc.. 5) Do I need to transfer the money to India in INR before 31st March'18 in tax point of view. Please assist.. Thanks in advance.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

13 March 2018 1 The rate of exchange for the calculation of the value in rupees of any income accruing or arising or deemed to accrue or arise to the assessee in foreign currency or received or deemed to be received by him or on his behalf in foreign currency shall be the telegraphic transfer buying rate of such currency as on , the last day of the month immediately preceding the month in which the salary is due, or is paid in advance or in arrears.
2 Use ITR 2.
3 Collect TDS certificate.
4 All deduction allowed.
5 No need of transfer of money to India.

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