Tax on Global Income
This query is : Resolved
04 January 2021
One of my client in India is having one office in partnership in Hong kong .
he has earned commission Income for selling goods to Columbia which he has purchased from china.
Income accrued and received in hong kong only.
now he wants to remit the forein earned income in india.
what will be the Tax implications as per Income Tax Act and as per GST act ????
he has earned commission Income for selling goods to Columbia which he has purchased from china.
Income accrued and received in hong kong only.
now he wants to remit the forein earned income in india.
what will be the Tax implications as per Income Tax Act and as per GST act ????
05 January 2021
GST not applicable as trade happened outside India.
Income tax applicable on global income whether remitted to India or not less any tax paid outside India.
Income tax applicable on global income whether remitted to India or not less any tax paid outside India.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Building tax payment deduction in rental Income
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
