Home |Tax returns filing | How income tax returns affect on a resident of India accepting compensation in US dollars by a foreign organisation on a monthly basis?

How income tax returns affect on a resident of India accepting compensation in US dollars by a foreign organisation on a monthly basis?

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Abdul Abdul
Answered on February 06,2020

Indians who are working in India for foreign companies are allowed to accept compensation or remuneration in India. Please note that those who are resident in India for tax purposes have to report their global income in India. Therefore, this compensation must be included in your tax return filed in India. It is possible that your employer may deduct some taxes at source or you may have to file a local tax return in that country. If that happens, you will be allowed to take credit of taxes paid outside India while filing your Indian tax return. Make sure you include this income in your Indian tax return and make other disclosures and provide all the information required to become eligible to take credit of foreign taxes paid.

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