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Foreign money to indian bank accounts

Tax queries 460 views 1 replies

Hello,

My question is this:

I am an Indian individual holding an account with an Indian Bank.

Now I will be receiving money from foreign sources outside India. This money is to conduct charitable programs or sometimes I get paid for content writing, freelance journalism etc.

What are the issues with the Income Tax Department?

Am I answerable to anyone about these amounts?

Is there a limit on the amount of money that I can receive?

Will this be looked upon as a donation made to me and taxable in my hands?

Would be grateful for clarifications on this topic.

Thanks,

Aneesh

Replies (1)
Dear aneesh being a resident in India all income earned including from foreign will get taxable in your hand. But if you create a trust and then you receive that amount in that then treatment will be different. Regards


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