What is the tax subsidy to cover the costs paid by the Indian company to your employee and if it becomes as savings?
Location: expenditure paid by an Indian company to its employee when it is sent abroad and if a party is brought back as savings. What is the tax on them when: (i) the individual becomes NRI (ii) the individual is a resident
I saw this answer on the following link: A resident of India is chargeable to tax on all income received by him. So the service received is taxable. However, it is eligible for a deduction under section 80RRA, up 75 per cent of the amount submitted by you in India within six months from the end of the year. This deduction is available only if you are a technician as defined in the explanation © to subsection (2) of Section 80 RRA and also the terms and conditions of service outside India are approved in this behalf by the central government or the authority concerned. The balance of 25 percent is subject to marginal tax rate. Similar situations have also been explained in detail. In summary, if profits are repatriated after reaching a state of IRN then it is taxable. If you are a resident of India, is passive. Cofusions more if wages are paid abroad not passive, but are paid by the Indian businessman is passive. However, see this link: http://nrifinance.rediff.com/taxationedit1.asp
Re: Dowry Deaths – India
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Planning for Non-Resident Indians; including Income Tax, Invensment, Real Estate, RBI, NRI, Customs and Foreign Exchange Definitive guide for non-resident Indians living and working in the United States. Includes Income Tax planning, investment planning, rest estate investment, RBI formalities, NRI bank accounts, customs and baggage rules and exceptions, foreign exchange currency management, and much more. Provides valuable information about opportunities for investing in industries and enterprises in India and enab… |
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