Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Discussions Forum
Home Forum Income Tax This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

Foreign income earned and converted in different FY, Income Tax

Issue Id: - 112317
Dated: 11-7-2017
By:- Shikha Mahawar

Foreign income earned and converted in different FY


  • Contents

Dear Sir/Madam,

I have a query related to taxation on foreign income if earned and converted in two different FY.

If an individual has been out of India for employment purpose for 187 days in a FY, the status of individual turns to NRI. The salary income earned by that individual for that FY becomes exempt from tax.

But what if the individual carries some amount of salary received in foreign currency itself and do not convert to INR and converts the same in INR in next FY when the individual status will be Resident.

Will that foreign currency converted to INR in next FY becomes taxable in that FY although the income earned outside India when the individual was NRI.

Thanks,

Shikha Mahawar

Posts / Replies

Showing Replies 0 to 0 of 0 Records

No Post / Reply found for this query

Old Query - New Comments are closed.

Quick Updates:Latest Updates