Tax on Inward Remittance

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21 Points Posted on 22 June 2021
Hello All.

thanks in advance.

I was a salaried employee until March 2021. I accept a job offer for a Saudi based company and started working for it since today. I have been receiving salary through wire transfer to my savings account created in India. I will continue to receive my salary until the pandemic situation is over.

Am I liable for any tax for this salary received. Is there any limit after which my account will be frozen by the bank?

I do not have a NRI account to safely deposit this money

Regards.
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On 22 June 2021 at 01:25 Report
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Quick Summary
If you're receiving salary from a Saudi-based company via wire transfer to your Indian savings account, your income is generally taxable in India. While Double Taxation Avoidance Agreements (DTAA) may apply, the income is considered to accrue in India. It's advisable to check with your bank regarding any limits on your savings account for such remittances.

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Chartered Accountant
24588 Points Posted on 22 June 2021
For foreign income DTAA is applicable
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On 22 June 2021 at 05:58
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tax consultant
3306 Points Posted on 22 June 2021
Since you are working from home and salary is also reveived in ordinary savings account in india your salary is fully taxable in india
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On 22 June 2021 at 14:23
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Chartered Accountant
24588 Points Posted on 24 July 2021
DTAA is applicable but tax will arised in India as income is deemed to accruing in India
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On 24 July 2021 at 10:00

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