A company incorporated in Japan is having its subsidiary in India. One of its directors (resident of Japan) is also employed in the Indian unit. The company maintains a provident fund account in Japan (in the nature of PPF) and 15000 is deposited by the company in that account in the name of the director and the same is included in the CTC that is paid to him in India.
So, whether any relief or deduction will be given in respect of the contribution made in Japan for the purpose of calculation of taxable salary for tax deduction at source. I hold that there won't be allowed any deduction, ur views are requested..
CAclubindia
