Hi,
I work for a Hong kong based company, and I live in India.
I got my salary directly in my indian bank account (by remittance). My company pays me my salry in USD and that salary get converted in to INR @ the acctual rate, at time of remittance.
I wat to know to is that income is taxable or not.
Someone told me that i need not to pay any tax for foreign income.
As per my opinion..................u r salay is fully taxed in india...as recived in india ie,in indian bank and in indian RS..............
since u are a Resident of India, any Income accruing or deemed to accrue is taxable in India.
Receipt from HK Co or any company for that sake is still taxable in India since services are provided in India, Amt received is in India, Work done too is India(which does not make difference).
Thanks for reply!!
So does it mean that i will have to pay the same tax as others do?
Relaxation upto 1.6Lac, then i'll have to pay 10% tax for remaining income.
It depends on income how much is your income and than according to it you have to pay tax.
CAclubindia
