Foreign salary for working in india

1. Can i work for the FC and get my salary here in India, kind of a part time (time based) while i am employed full time with another company. Nothing in law prevents you from working with two employers. However you must check contractually with your current employer and also your overseas employer. They should no have objection to this. 2. Which will be a good way to transfer the payments from US to India to my Bank account ? Direct transfer to Bank or though paypal or other services ? Direct transfer should work without any hassels. Contact your bank to check how you can manage this. 3. Beyond what limit should i consider the amount gained by this extra work for taxation and how is the process of filing the same. Note: FC does not have any subsidaries in Indian soil. If your current income is already above the threshold limit of INR 2,00,000 than the entire sum will be taxable. I suggest you consider this income as income from business and profession for consultancy Services rendered. 4. I see in various discussions that upto $10,000 tranfer can be made into an Indian Bank account as a gift ? Is that true, can it be done from a personal account in US into my account in India ? Is this limit for a month or for a year or day :) just curious ? Receipts from foreign company cannot be considered as gifts. You will have to include this money in your income. 5. If at all i receive some extra income in this manner from foreign assignments, how do i file the tax ? Usually i get Form 16 from company and file my returns but how do i do it now ? Since there is no TDS applicable here, you will have to ensure that adequate advance tax is deposited with govt. every quarter. You can file your taxes including this income and your salary income in ITR 4 based on self assessment.

1. Can i work for the FC and get my salary here in India, kind of a part time (time based) while i am employed full time with another company. Nothing in law prevents you from working with two employers. However you must check contractually with your current employer and also your overseas employer. They should no have objection to this. 2. Which will be a good way to transfer the payments from US to India to my Bank account ? Direct transfer to Bank or though paypal or other services ? Direct transfer should work without any hassels. Contact your bank to check how you can manage this. 3. Beyond what limit should i consider the amount gained by this extra work for taxation and how is the process of filing the same. Note: FC does not have any subsidaries in Indian soil. If your current income is already above the threshold limit of INR 2,00,000 than the entire sum will be taxable. I suggest you consider this income as income from business and profession for consultancy Services rendered. 4. I see in various discussions that upto $10,000 tranfer can be made into an Indian Bank account as a gift ? Is that true, can it be done from a personal account in US into my account in India ? Is this limit for a month or for a year or day :) just curious ? Receipts from foreign company cannot be considered as gifts. You will have to include this money in your income. 5. If at all i receive some extra income in this manner from foreign assignments, how do i file the tax ? Usually i get Form 16 from company and file my returns but how do i do it now ? Since there is no TDS applicable here, you will have to ensure that adequate advance tax is deposited with govt. every quarter. You can file your taxes including this income and your salary income in ITR 4 based on self assessment.

Thank you Gautam. That was helpful.