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Income recd in dollars??

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CA
187 Points Posted on 14 September 2007
If i make income from website running and the payment is received in dollars will it be exempt from tax in India ??


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On 14 September 2007 at 02:23 Report
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Chartered Accountant
340 Points Posted on 14 September 2007
no u r running website from india and ur resident i deem so hence any income recd. by u is taxable
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On 14 September 2007 at 10:09
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Professional
272 Points Posted on 14 September 2007
Income received by an assessee who is resident and ordinarily resident is taxable in india. He is taxable for his global income and he has to pay tax in india.
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On 14 September 2007 at 10:19
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Chartered Accountant
1974 Points Posted on 14 September 2007
Your income will be taxed in India as u r Resident in India...it doesnt matter whether you have received money in dollars or Rs.
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On 14 September 2007 at 13:58
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Service
107 Points Posted on 15 September 2007
U r liable to be taxed in India. However u can claim exemption by registering urself with STPI under section 10 of IT Act. Ur income will be free of tax till 2010.
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On 15 September 2007 at 11:42
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Guest
460605 Points Posted on 15 September 2007
Income received in convertible foreihn exchange in taxable in India.However, if you are registered with STPI and are providing IT services as mentioned in specified IT services, then you can claim deduction u/s 10A.
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On 15 September 2007 at 13:45


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