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Tax liability & fema implication
Mr. A is an Indian citizen. He has stayed in since his birth. He has a joint bank account with his father in India. He got a job in Dubai (U.A.E.) in a hotel for a salary of 72000 per annum. He took the flight on 29/10/2012 for Dubai. Mr. A is remitting 1950 Dihram (i.e. 29000 INR approximately) at the end of every month in the joint acccount in India. Out of Rs.29000, Rs.10000 is used for payemnt of installment of his educational loan.
Is Mr. A required to pay Tax in India (his income is not taxable in U.A.E)
Whether is he required to file return?
Is he required to take prior permission from RBI for remitting the money?
Replies (1)
corretion of mistake: Mr. A's salary is 720000 per annum instead of 72000 per annum.
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