A foreign national is working in India for whole year, so becomes a NOR.
He earns Euros 12000pm, so at what rate to convert his salary in INR for FY 13-14.
Are there any spl provisions for such an employee in I-T Act regarding his tax computation or is it the same as a normal resident employee?
As per section 6 of income tax act, he is a resident so, normal provision will apply for him bu not ordinarily resident (if he is working for the company for one year only).
as regarding the rate of Conversion, opinion is take the Month end Rate
in respect of income chargeable under the head "Salaries", the last day of the month immediately preceding the month in which the salary is due, or is paid in advance or in arrears;
Anuj
femaquery @ gmail.com
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
