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Q.

I went outside India in March08 as a salaried employee. I will return INDIA in Aug09. I remitted money in the Indian Saving acc since i didnt had NRI acc at that time. My query is that
1). Will my remitted money (in the Indian Savings account) during April08-March09 be counted as my Indian income and thus taxable.
2). If I come INDIA in Aug 09 and I remit money in the NRI account during (April, 09-Aug09) will that money be taxable in India.
3). If I have some money in my abroad account as a carry over from previous FY08-09 and if I remit that money in FY09-10 will that money be taxable.

Asked by Gaurav Agarwal, 08 Apr '09 04:38 pm
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Answers (2)

1.

Hello Gaurav, I am also same like you.First you should get the meaning of NRI.If you live out of India more than 182 days in a financial year then you will be called as NRI.Now as per NRI rules i wam trying to answer your questions serialwise -
1. NRI account does not matter in income tax calxulation.If you remitted tax paid amount in your Indian saving bank account then there is no need to pay another tax in India.
2. No this money is also taxfree, however you must have tax proof in that country.
3. Did you earn this carry over money in that country or it is carried from India.If it carried from India you must have paid tax already in India and if you earned there eventhen tax must have deducted in that country.......so no tax liability.

In all case you must take care of you income tax certificate, please collect your tax certificates from your employer time to time.
Answered by NAVEEN, 10 Apr '09 07:41 am

 
  
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2.

Charterd accountant can help you better.
Answered by Anand Agarwal, 10 Apr '09 12:12 am

 
  
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