Tax on foreign income for indian resident
This query is : Resolved
gauravwagh
(Querist)
18 July 2011
Dear Team ,
I am an Indian resident
I will be taking an international assignment temporarily in Italy [I will still qualify as an Indian Resident]
I will get a foreign Service allowance in Euros in Italy. Mean while I will also be paid salary in India
foreign Service allowance will be given to me after deducting TDS in Italy
My query is will I have to pay tax again on F.S.A. under my Indian tax liability?
OR
Can I use it as an advance tax paid while calculating my Indian Tax liability ??
Kindly advice
Thanks in advance
Gaurav Wagh
I am an Indian resident
I will be taking an international assignment temporarily in Italy [I will still qualify as an Indian Resident]
I will get a foreign Service allowance in Euros in Italy. Mean while I will also be paid salary in India
foreign Service allowance will be given to me after deducting TDS in Italy
My query is will I have to pay tax again on F.S.A. under my Indian tax liability?
OR
Can I use it as an advance tax paid while calculating my Indian Tax liability ??
Kindly advice
Thanks in advance
Gaurav Wagh
Arihanth Jain
(Expert)
18 July 2011
Global income of a resident of India is taxable in India u/s 5.
However if any taxes are borne on the same income abroad credit shall be available u/s 90 i.e., the amount deducted in Italy can be used as a tds u/s 90.
However if any taxes are borne on the same income abroad credit shall be available u/s 90 i.e., the amount deducted in Italy can be used as a tds u/s 90.
Message likes :
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CA. Anuj Gupta
(Expert)
18 July 2011
Foreign Service Allowance to the extent not spent by you shall be taxable.
Anuj
+91-9810106211
Anuj
+91-9810106211
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