I get foregin allowance from my company whenever I go to aborod for service kind of job. I save some of it and bring it back. Will this saved money is exempted from TAX or I have to pay tax on that too.
RE:Tax on foregin allowance
by Amitabh on Apr 28, 2007 01:31 PM Permalink
I presume you get this allowance to meet your exepenses while on tour.To the extent this allowance is used for the same,it is exempt.Balance will be taxable.
RE:Tax on foregin allowance
by Amitabh on Apr 29, 2007 08:39 AM Permalink
However,if you are non resident for that year,the allowance will not be taxed in India if accrued and received in India.
