Hi,
I am a IT professional from India and I use to travel in oversees countries for projects basically Europe and North America. On these visits I get foreign currencies (EURO and USD) for my daily expenditure and whatever I can save comes as my personal saving.
I want to know my this saving or income falls in which category, what is the TAX rate in this and what type of form (ITR) I need to fill for this income as my company do not cut TDS on this income?
Thanks in advance.
Best Regards
Anand
@ Shivang : Thanks a lot for your very prompt response but I am still confused.
Clarification - I gets 100 EURO per-diem allowances / day when I go to France for the work. Suppose I stays there for 40 days, then its 40 X 100=4000 EURO. In that I spends 2000 EURO for food, laundry etc. At the end of the 40 days while coming back to India I am left with 2000 EURO's, my question is regarding those 2000 EURO's which I still have have in my pocket, is that a taxable amount, if yes then whats the rate of tax on that amount and which ITR I should use to file return with that amount. Is it possible to consider that amount in section 80 RRA ( I don't know much about this but people in my office are using that for tax saving's)?
CAclubindia
