Want to calculate tax on income earned outside India? Keep these factors in mind
2 years, 1 month ago

Want to calculate tax on income earned outside India? Keep these factors in mind

Firstpost  

The exchange rate used to convert foreign currency income to Indian rupees for tax purposes is specified by income-tax regulations Working from home has reduced the necessity for physical presence in a lot of companies around the globe. Here we will discuss how people with foreign jobs can calculate their net income, keep adequate records of their money, and make informed decisions about their finances: Learn about the applicable TDS of that particular country: Similar to TDS in our country, a foreign government may similarly withhold tax when transferring money to India. While this relief can help the taxpayer pay less tax in India, preventing double taxation of the same income, the taxpayer cannot get a reimbursement for any additional taxes paid abroad. Conversion into Indian rupees for tax purposes: The exchange rate used to convert foreign currency income to Indian rupees for tax purposes is specified by income-tax regulations.

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History of this topic

Taxability depends on the source of income
4 years, 3 months ago

Taxability depends on the source of income

Live Mint  

I have been living in London since 2001. Basic conditions: Physical presence in India during the relevant FY is 182 days or more; or Physical presence in India during the relevant FY is 60 days or more and 365 days or more in the preceding 4 FYs; or An Indian citizen if he is not liable to tax in any …

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