Taxation of prize from foreign co.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2014
Q: A BOY WON PRIZE OF USD 10000 ON 17/10/2014 FROM MICROSOFT DEVELOPER CONTEST FROM FOREIGN IN INDIAN RS SO THE TAXATION METHOD WILL BE WHAT?
HE IS ALSO A SALARIED PERSON (INDIAN RESIDENT)
WHAT WILL BE THE TAX RATE
PRIZE USD 10000 INDIAN RS 750000 CASH IN BANK
HE IS ALSO A SALARIED PERSON (INDIAN RESIDENT)
WHAT WILL BE THE TAX RATE
PRIZE USD 10000 INDIAN RS 750000 CASH IN BANK
11 December 2014
what is the prize....................
Rupesh Jain
(Expert)
12 December 2014
If he is resident, then his income will include in the income and also take the credited of tax deducted by company pls see DATT agreement.
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