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Income tax on overseas fund transfer
A foreigner person living in India and doing job and getting salary into indian bank account, also filling his itr. now he want to transfer some money around 30 lakh from his foreign country bank account to indian bank account. in this case any income tax need to pay while filling itr.
Replies (1)
If he is paying tax on indian income and filing return in that regard, getting further amount from foreign bank account to indian account for any purpose wont be taxable under ITA. Such amount must have been accrued and received out of india before getting it to Indian Bank account.
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