Income tax for the income received in india from aust in usd

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Hi,

I am resident of India working as a software freelancer from India.

In last year I have received funds from Australia on my Indian bank account or some times on Paypal account which is linked to same bank account.

Funds I received were in USD.

Do I have to pay tax on this income (Its near about 14 lacs)? If yes can anyone please let me know what are the rules and how i can save tax?

I have beed contacting CAs but I am not getting unique answers. Some CAs are saying I will not have to pay tax on this income some are saying i have to pay! What is the case here?

Please help...

Thank you,

Sachin

Replies (1)

Hi,

Global income of an Indian resident is liable to income tax in India.

Hence your foreign income is taxable in India.

Relief will be only according to the DTAA with associated country (Australia).

In case of further query PM or mail us.

AJH & CO.

Chartered Accountants

anubhavjain @ ajhco.in

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