I am on a project (1 year duration) in Qatar. I am remitting money thru TT to my HDFC Bank savings account in India. All family maintenance/expenses and Home Loan EMI is deducted from this Saving Account.
Let me know what will be tax implications.
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2This question seems a little broad. If you're looking for general tax advice while working abroad there are several questions already posted on this topic. Have you read any of those?– NL - Apologize to MonicaJul 31, 2014 at 15:46
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You might look under the India tag or at the questions in the "RELATED" column on the right hand side of the page.– NL - Apologize to MonicaJul 31, 2014 at 15:47
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Agree with Dheer, it depends on whether for the given fiscal financial year you are NRI for tax purposes.– Kundan Lal RanaApr 29, 2015 at 6:31
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You can agree with someone else's post by upvoting it, there's no need to add another answer if there's no extra information to add.– GS - Apologise to Monica ♦Apr 29, 2015 at 7:27
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2 Answers
Staying out of India for a certain duration on a year (financial year) deems one to be considered NRI (non-resident Indian). NRIs are not taxed under Indian tax law as they are deemed subject to the resident country tax laws, so for NRI there is no tax liability in India. For your specific case, you could consult a Charted Accountant (CA) and he/she will be able to tell you exactly after looking at your financial data.
You have not mentioned the dates when you left India. If you leave before Oct 2 then the income is taxable, else it is not. Taxability is not depended on whether you transfer the funds to India or NOT. It is dependent on whether you are NRI for tax purposes for the given financial year.
Refer to this question for more details Will it be taxable if I transfer money from UK account to India account?
