It payment
This query is : Resolved
17 November 2013
My friend is working from home for a foreign enterprise and he receive the salary of RS.50000 from US his he liable to pay the tax in India or he exempt for tax..
SANTOSH SAGAR K
(Expert)
17 November 2013
As per the Income Tax Act, in case of a person RESIDENT in Indian, the global income is taxable.
Hence, in case of your friend, assuming that he stays in India only and receives any payment from US, the same is taxable in India.
However, please note that any taxes paid/ deducted in US can be claimed as Foreign TAx Credit.
Hence, in case of your friend, assuming that he stays in India only and receives any payment from US, the same is taxable in India.
However, please note that any taxes paid/ deducted in US can be claimed as Foreign TAx Credit.
SANTOSH SAGAR K
(Expert)
17 November 2013
As per the Income Tax Act, in case of a person RESIDENT in Indian, the global income is taxable.
Hence, in case of your friend, assuming that he stays in India only and receives any payment from US, the same is taxable in India.
However, please note that any taxes paid/ deducted in US can be claimed as Foreign TAx Credit.
Hence, in case of your friend, assuming that he stays in India only and receives any payment from US, the same is taxable in India.
However, please note that any taxes paid/ deducted in US can be claimed as Foreign TAx Credit.
CA Pallav Singhania
(Expert)
17 November 2013
If the income arise or accrue in India one is liable to pay tax on such income...
Nikhil Kaushik
(Expert)
17 November 2013
Dear Ashish,
As suggested by other experts, this income shall be taxable in India. Plus, it is expected that US company shall also withhold certain taxes in US.
With respect to such taxes, credit can be claimed in Indian tax return. Please refer to this wonderful PPT by Rishi Halalkar.
https://www.bcic.org.in/Presentations-TaxConference-Sep12/Mr.%20Rishi%20Harlalka.pdf
As suggested by other experts, this income shall be taxable in India. Plus, it is expected that US company shall also withhold certain taxes in US.
With respect to such taxes, credit can be claimed in Indian tax return. Please refer to this wonderful PPT by Rishi Halalkar.
https://www.bcic.org.in/Presentations-TaxConference-Sep12/Mr.%20Rishi%20Harlalka.pdf
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