Menu
Taxability of foreign currency saved out of foreign tours
Sirs,
My freind , working in MNC, is frequently sent by his Employer to foreign countries. He is paid Travelling & Daily Allowance as per fixed rate as per Rules of the Company. He generally saves a substantial part of it. My query is whether such savings out of official foreign tour is taxable under Income Tax Act.
Replies (1)
I think that is other income as it is recieved apart from salary from employer and anything received by employer is taxable as per general rules of income tax act. also refer to definition of income.
Recent Topics :
- Paper 6 - IBS
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
Related Topics :
CAclubindia
