Taxability of cash from nri account to indian bussiness account
This query is : Resolved
25 January 2023
Please confirm the taxability, if a NRI trasfer any cash from dubai to India from his NRI A/c to indian current bussiness A/c.
25 January 2023
No tax liability on such transfer, under IT act.
25 January 2023
Sir, Can you please confirm related section.
one more thing i need to ask, when this cash will come in business account then this income will be taken as business income no, then how it is exempt?
please explain.
one more thing i need to ask, when this cash will come in business account then this income will be taken as business income no, then how it is exempt?
please explain.
25 January 2023
The capital transfer from your NRI account is not income, but capital introduction in the business, and hence it is not taxable. Your initial capital investment in the business will be increased by such cash transfer..
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