i'am an indian citizen, staying in India,employed with a co. in Hongkong. Salary is credited into my Indian Bank Account after 2.5% Tax deduction as per the prevailing laws in Hongkong. do i still have to pay Inome Tax in India. please suggest methods .
RE:Income tax
by on Apr 30, 2007 08:09 AM Permalink
Dear Shiv I am sandeep also employed in Hong Kong. In your case, since you are employed outside india, your tax liability will be determined according to your resident status in the relevant Financial Year. If you are Non Resident for a Financial Year, you are not subjected to pay tax on your Income earned in any Financial Year. Since your only part of salary is being remitted to India directly, would not attract Income tax as per Indian Laws, as you are already paying tax on your salary in Hong Kong. Regards Sandeep 22708422.
