I m an NRI working for a Company Out side india, On my recent visit to india, I opened a Proprietorship bank account with one bank with my Pan Card & Professional Tax registered on the name of my company. I would be doing free lance business Out of india and will also receive money in this account from abroad, (There will be no Indian Income). My query is what will be my Income tax liability in this situation. 1. I m an NRI and 2. I don't have any income from India.
Re: TAX LIABILITY FOR NRI ON INDIAN PROPERITORSHIP INCOME
by SHYAMLOHIA on Mar 15, 2012 01:42 PM Permalink
You can open only NRE account in name of you not in name of your proprietorship. And any remitance which is transferred in your NRE account, i.e. not taxable
