Hi everyone.
I have a doubt and all your help would be appreciated.
Doubt- I am a resident individual in India and i receive income in forex of about 7 lakhs per annum(inr) .
This income is received for the work done by me for developing products for a client in foreign country.These products are developed by various EOU's who manufacture and export them to the client( i have no involvement in this). My job is to ensure quality and timely completion and delivery of shipment.
What is the nature of income received by me and under what head will the same be taxable.Also i incur alot of expenses for travel to various locations for the same , phone expenses and overnight stay at the places.Depending on your answer i want to confirm are these expenses deductible.
Further please answer in two-
1.If the income is a fixed income received every month. However there is no such agreement or employer employee relationship.
2. If it is received on the basis of %age on the value of goods shipped.
Please clarify if i come under any other laws like Stax etc.
Thank You in advance
CAclubindia
