Foreign salary

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i want to know how a return is filed if i receive Salary Rs 250000 in india for 6 months and SGD 700000 in singapore in another six months.

Am i required to to tax calculation taking into consideration SGD 700000, am i required to pay tax to indian government 

Please explain and help me with the tax calculation

Priya

Replies (5)

Ms.Priya Gupta

First of all the residential staus of an assessee has to be determined.  Depending on the residential status of the assessee the tax on the income earned in foriegn country will be taxed in India.

You are a prospecting Chartered Accountant go through section 6 of Income-tax Act.

Best Wishes

Sathikonda

Please refer section 4 to section 9 of Income Tax act for determination of income in the hands of assessee.

 

Futher refer Section 89 and Section 90 for benefit of double taxation i.e. tax paid in foreign country also.

And for taxes paid in SGP , you will also get tax credit in India

Refer section 4 of the income tax act and provisions of double taxation.....as specifically in your case you will also get tax credit paid in foriegn country. 

Is it ok if a new NRI gets TDS on his overseas salary there &

continues to submit his ITR regularly in India as a resident on his interest income from Indian pvt. parties, derived from his old income generated & accumulated capital in India as before usual, U/S 115-I


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