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Income tax benefits for export of service

221 views 4 replies
assessee proprietor ( not registered under any act not eligible for GST for the year) providing recruitment services to a company in Canada and receives payment of fees and commision in dollars which gets credited to his account in INR

is he eligible for tax benefits due to nature of business or he will have to compute profits in general like an Indian business entity and pay tax.

No TDS is deducted in this case
Replies (4)

There is no export benefit under Income Tax Act for the above nature of services. You will be needed to compute profits in general like an Indian business entity and pay tax accordingly.

No tax benefit.
but interest in foreign currency account is exempt
Thank you all

As others have mentioned, there are no benefits or incentives, beyond what is available to anyone else.

However, regardless of overall income, even if one paisa of your income is from outside of your state, then GST registration and return filing is mandatory.


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