whether foriegn income taxable in india
This query is : Resolved
29 March 2017
example:A person who is indian citizen received foriegn currency to his bank account (india) from his son who is under employment in foreign country.
person withdraw total foreign currency amount.
Department send notices to him.
kindly advice me ,ia there any tax consequences ?
30 March 2017
No tax consequences, it is an exempted income. Reply to the notice as amount received from son working abroad.
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