i hve been told by few ppl that income in US Dollors is non-taxable in India upto certain limit? any one having any idea pls reply.
2007-03-26 03:31:35 · 5 answers · asked by Aquagal 4 in Business & Finance ➔ Taxes ➔ India
You should check with a professional tax preparer. Or better yet an accountant. You may be liable not only for taxes in India but may also be liable for taxes in the US. The company you work for is a US company and you are paid in dollars this is definitely something that needs to be checked by a professional.
2007-03-26 03:42:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Who are under a great misconception dear
Since you are indian resident it is immaterial whether u earn in dollars or Rs your income is taxable in India .
Further even if u r non resident but incmoe is received in India you will be taxed in India.
2007-03-28 06:46:00 · answer #2 · answered by Sunnykvb 1 · 0⤊ 0⤋
if you work in india , you will have to pay tax as per the indian taxation rules. You can use SARAL form to file the Indian taxes. I think you have to get a exemption from Indian tax authorities to get paid in US Dollars, as ideally you should be getting paid in Indian Rupees. Consult a good tax consultant on that.
2007-03-26 10:41:28 · answer #3 · answered by Jack Bauer 2 · 0⤊ 0⤋
It will either be taxed by the US governmetn or by the Indian one, probably India. Don't trust your friend on the US dollars not taxed till certain point rule, you could be arrested.
2007-03-26 10:36:33 · answer #4 · answered by fwc 3 · 0⤊ 0⤋
For your information, all incomes are taxable whether its in INR or US$.
2007-03-26 10:33:59 · answer #5 · answered by SGElite 7 · 0⤊ 1⤋