August 14, 2007

Fund transferred from NRE account is taxable?

I am basically employee of Siemens India and working in Australia on deputation for 10 months as an employee of Siiemens Australia.I have my indian salary account in HDFC india, but my salary is now crediting to Australian salary account of Citibank. I also have Citibank NRE account.I normally transfer my salary from Citibank salary account to Citibank NRE account and then to HDFC Salary account and my wife's salary account.

  1. My quistion is that whether this transferred fund to HDFC and my wife's salary account will be taxable in India?
  2. not taxable
  3. No, In your case, You are earning income in Australia ( Out of India ) and are paying income tax on that income to Australian Government (ATO), so all the money which you save from your Australian salary and transfer to India is not taxable in India.

Tags: NSE

Spread some Lovin'

del.icio.us Digg Furl Reddit BlinkList Google Netscape StumbleUpon Technorati Windows Live Yahoo!

Permalink • Print

Track this entry

RSS BlogPulse

RSS Technorati Cosmos