Tax on income from a Foreign source

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Tax on income from a Foreign source
Query (Issue) Started By: - Sushil Rawal Dated:- 10-8-2012 Last Reply Date:- 14-8-2012 Income Tax
Got 5 Replies
Income Tax
Hi, Can I please get someone to answer as to what are the Tax obligations on an individual and a company where in an individual, an indian resident, gets paid for his services from a Foreign company directly money getting credi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ted into his bank A/C and Foreign compnay has no local presence in India taking services of this individual from remote? Many thanks in the anticipation of a prompt response !! Thanks/Sushil Reply By CA GOPALJI AGRAWAL: The Reply: The person who is resident and ordinarily resident in India as per section 6 of the Income Tax Act., his income from the whole world is taxable unless specifically e .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... xempted in the Income Tax Act. Reply By Sushil Rawal: The Reply: Thx Gopalji but what'd be the company's obligations in regards to tax in this case ? Reply By Sushil Rawal: The Reply: Also if salary is received from a foreign company , which does not have any office in India, then shouldn't the services being rendered by Indian national from india to overseas company be treated as export of servi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ces ? In which case ,as per my limited knowledge,money recived by Indian national would be non- taxable ? Please advise !! Reply By CA GOPALJI AGRAWAL: The Reply: The foreign company is not laible to deduct tax in such cases and the law can not travel beyond its territory. The service rendered by individual (export of services) are taxable now and enjoy no exemption/deduction. Reply By Sushil .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Rawal: The Reply: Thx Gopalji, Information so far was really helpful. I've one last question - Under the same circultances what would be company's reponsibilities in regards to paying taxes ? Should they be paying taxes too inlieu of services taken from an indian resident ?
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X