NRI remittance

Tax queries 1055 views 1 replies

Anil

1638 Points Joined October 2007

If an NRI as per income tax act remitts money earned outside India in foreign currency to his own account in indian currency through an authorised money exchange agent working abroad, will such remittance be taxed in India in his hands?

Quote section reference, if any please

Thanks

Replies (1)

Anumanchipalli Sathikonda

Tax Consultant

1559 Points Joined June 2009

Mr.Anil

Section 5(2) and the explanations 1 and 2 to that subsection are very clear. Please go through the section. And also go through the DTAA between Indian Republic and the concerned country.

Best Wishs

Sathikonda