if some one earned income in foreign currancy outside india & remitteance in his bank account in india, what is the tax liability of such person & where has to show in his tax return.
Income generate from forex.
thanks
Anchal Soni
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Tax treatment of foreign income of resident indian
Replies (4)
Taxability of such income will be depend on Residential status.
Ref Sec 6 of Income Tax act for Residential income and Sec 9 for taxability of such Income.
The person is resident indian.
Global income of Resident Assessee is taxable in India.
Thanks Ashish for ur quick replay.
Further In whch head that income will show in tax return.
thanks
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