Salary earned in dubai
This query is : Resolved
CA Pranav Mohan Gohil
(Querist)
05 January 2014
Dear All,
I was working in India from 1st April 2013 to 31 October 2013 and earned salary income. I have now shifted to Dubai and working as a salaried employee in Dubai since November 2013.
I have withdrawn my balance in EPF Account for the current financial year (FY 2013-14) as well as the previous financial year (FY 2012-13).
I have invested around 1 lacs in LIC & PPF.
I have certain queries.
1. Can I avail deduction u/c. VIA of Rs. 1 lacs?
2. Is the EPF amount which is withdrawn taxable in my hand and to what extent (employee or / and employer's contribution).
3. At what rate should I convert my foreign earnings from November 2013 to March 2014?
I was working in India from 1st April 2013 to 31 October 2013 and earned salary income. I have now shifted to Dubai and working as a salaried employee in Dubai since November 2013.
I have withdrawn my balance in EPF Account for the current financial year (FY 2013-14) as well as the previous financial year (FY 2012-13).
I have invested around 1 lacs in LIC & PPF.
I have certain queries.
1. Can I avail deduction u/c. VIA of Rs. 1 lacs?
2. Is the EPF amount which is withdrawn taxable in my hand and to what extent (employee or / and employer's contribution).
3. At what rate should I convert my foreign earnings from November 2013 to March 2014?
CA. Brijesh Baranwal
(Expert)
06 January 2014
Point wise reply to your query is as follows;
1.YES,
2.Depends upon period etc.,
3.See if any treaty exists for your benefit.
1.YES,
2.Depends upon period etc.,
3.See if any treaty exists for your benefit.
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