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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.
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