Income tax rule for salary received from abroad.

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3 Points Posted on 03 July 2021

Dear team,

I want to know what are the tax implications on salary received from a foreign company based in uk who doesn't yet have a branch in india. If i take up the job, they will transfer.monthly salary payments in inr to my indian savings bank account.. How is this treated , how do I file taxes under which itr and section.. Can i take file this as under "presumptive income" category. Please for your insights and guidance

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On 03 July 2021 at 23:57 Report
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Quick Summary
If you're receiving a salary from a UK company paid in INR to your Indian bank account, it's taxable as salary income in India. You cannot file under the presumptive income scheme. While initially suggested, ITR-1 is not suitable due to foreign income. You will likely need to file using ITR-2 and declare this as salary income, even without a Form 16 or TDS.

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CA in practice
185 Points Posted on 04 July 2021
Salary received will be taxable under Salary head only. If you have only salary income, then you may file ITR-1.
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On 04 July 2021 at 00:15
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3 Points Posted on 04 July 2021

Thank you mam for your response, there won't be any form 16 given to me.. They will only send remittance every month with no tds at their end (in uk) .. Will it still be itr 1 ? .. Mam also can you tell if presumptive income is applicable for such situation or not, so that tax can be saved

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On 04 July 2021 at 00:32
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CA in practice
185 Points Posted on 04 July 2021
Employer-employee relationship exists or not. Are you an independent professional or an full-time salaried employee working only for that company. Consider these points and if you are an employee, than you have to show it as salary.
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On 04 July 2021 at 01:04
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144 Points Posted on 04 July 2021
You have foreign Income so you can't file ITR 1. You have to file ITR 2. You have written that you are an employee... so you have to show it as salary income.
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On 04 July 2021 at 11:01

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