Foreign going person. .

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Student
800 Points Posted on 04 November 2012

Hello,

One of my relative is shifting to US for 3 years on employment.He will continue receiving basic salary in India during his stay in US apart from salary of 5000$ p.m in US,moreover he will receive rent amounting 1,20,000 pa in India. I want to know what financial arrangement he should do before leaving India.What is NRE/NRO account and how it can be helpful?

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On 04 November 2012 at 00:13 Report
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CA
745 Points Posted on 04 November 2012

you are asking about banking procedure i am not an expert. But regarding taxation , normally  salary is taxed if work is done in India. In this case, work is done abroad. Hence not taxable. But , income of NR is taxable on accrual or receipt basis. If payroll is maintained in india and salary is credited, it may be taxable on accrual basis in india.

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On 04 November 2012 at 09:38

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