Regarding transfer made in indian bank account of australian

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srushti sethi (Querist)

21 August 2014 I want to ask that my assesse is having Australian foreign income and he wants to tranfer it to his Indian bank account. He lives in Australia from last 1 year.He already paid his tax there. So what is beneficial for him i.e to transfer that income to his own single bank account or to transfer it to multiple bank accounts?
plz answer my query

Nikhil Kaushik

Nikhil Kaushik (Expert)

21 August 2014 the amounts transferred to Indian accounts from own bank account outside India will be considered as a remittance and not-taxable in India (assuming non-resident status holds good). So doesn't matter if you transfer the whole of the amount in bank account.

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srushti sethi

srushti sethi (Querist)

21 August 2014 thank you sir but one thing more that i want confirm is that what is more beneficial for assesse i.e transfer this amount to his own bank account in india or in multiple accounts of his family member in india. And what are its pros and consequences?

Nikhil Kaushik

Nikhil Kaushik (Expert)

21 August 2014 there are no pros and cons...but I personally advice that you keep money in your own account only.

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