Tax on foreign income

Yes your income for the month of April including final settlement will be taxable in India. However, you can take credit of taxes paid in the middle East.

Please find the extract of law below:

An individual is said to be resident in India in any previous year, if he-

(a) is in India in that year for a period or periods amounting in all to one hundred and eighty-two days or more ; or

(B) having within the four years preceding that year been in India for a period or periods amounting in all to three hundred and sixty-five days or more, is in India for a period or periods amounting in all to sixty days or more in that year.

You are covered in clause b.

You can surely contact me for further clarifications.

Thanks and Regards

CA Abhishek Dugar

If you have earned that income (which you are intend to transfer) outside India while you were non resident, there will not be any tax implications.

It is advisable to create a gift deed to corroborate the transection.

Thanks and Regards,

CA Abhishek Dugar

Dear Sir,

Yes the income earned in the FY 2016-17 will be taxable in India as you are resident in India for a period of more than 181 days.

Though Remittance of Income earned earlier will not be taxable.

Trust this clarifies your query.

Feel free to get back/ call back in case of further details.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB - GEN, CERT. FAFP

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