expenses deducted from foreign salary

489 views 3 replies

hello members , if someone could ans this query..

 

I am currently employed in a foreign country by foreign co. I have earned 14 lacs as salary income from this foreign co.  from july 09 to march 2010.

on searching this forum ….

I think my foreign income of 14 lacs will be taxed in India  bcos of residence ….

 

I want to know  ..whether I can deduct my rental & travelling expenses which I have beared & paid 

( no allowance or reimbursement received from foreign co. )   in this foreign country from my earnings of 14 lacs …. and then present net income to be taxed in India  or  my entire amount of  Rs. 14 lacs will be taxed in India ??

Replies (3)

get back to you soon

Only rental expense will be allowed as deduction u/s 80GG.

thnk u Deepesh ....

Company also deducts compulsory social contributions such as unemployment insurance, pension fund , security insurance ,   Withholding tax …..

 

Can I deduct these contributions from my foreign salary and present net salary in

Indian I.T. return  

OR  

 My   Gross   salary received  in foreign country  will  be taxable in India   and  I get no credit of  expenses like  rent paid , traveling exp , social  contributions , tax deducted .

thanxs

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