Taxable income
This query is : Resolved
29 July 2011
Dear Sir ,
One of my friend working as a freelance job for overseas client and he is getting payment in USD through PayPal which latter convert by bank in INR.
my question, is their income taxable or not under income tax act ??
Thanks
Krishna
One of my friend working as a freelance job for overseas client and he is getting payment in USD through PayPal which latter convert by bank in INR.
my question, is their income taxable or not under income tax act ??
Thanks
Krishna
CA PARAS BAFNA
(Expert)
30 July 2011
The income is being generated by your friend staying on the Indian Soil.
He is a resident in India and his foreign income as well as Indian Income, both are taxable. This is treated as his Indian Income.
He is a resident in India and his foreign income as well as Indian Income, both are taxable. This is treated as his Indian Income.
30 July 2011
sir under which section of income tax it is stated that taxable please... Thanks
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