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Taxation in India on earnings outside India?
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One Response to Taxation in India on earnings outside India?
Hello Anil,
Well, I am confused why you are asking about the taxation of your earnings and then bring your savings into the picture. Your tax liability for 2006-07 should be the same as it is now – NET of your moving expenses and any relocation. I know that doesn’t make sense because you will incur the expenses before you make the earnings. An easy way to see around this – explain this to your future employer, ask them to pay the expenses now (So they can deduct the expense in this year and then charge you for them in the next calendar year. This will have the same affect as you declaring them on that years tax report without having to pay them upfront.
Which ever way that works for you, I would still consult a tax adviser who studies individual tax laws for the current and next year for their best advise.
James
cpa
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