Income earned outside India

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Assistant Accountant
60 Points Posted on 24 July 2021

I have client who has Business setup in Dubai and he is located in India.

Now he wants to transfer money to India from his Customers in Dubai.

What are the best option in this matter and what are the consequences of the same.

Kindly give your best advise.

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On 24 July 2021 at 09:23 Report
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Quick Summary
This discussion addresses the process of transferring income earned from a Dubai-based business to India for an individual residing in India. It explores options like using an NRE account and highlights the importance of adhering to FEMA regulations and obtaining RBI permission. The advice also touches upon the taxability of such income in India, depending on residential status and the source and place of receipt.

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Chartered Accountant
24588 Points Posted on 24 July 2021
Yes you can transfer through FEMA act and after getting permission from RBI.

Taxability of income in India depends on residential status, and source and place of receipt of income. In your case, the income is received directly into your bank account in India, you are liable to pay tax in India
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On 24 July 2021 at 10:08
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Chartered Accountant
86505 Points Posted on 25 July 2021
Transfer amount through NRE Account in bank.
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On 25 July 2021 at 06:54

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