Foreign Income in India

Background Many Indians, who live and work abroad, sometimes receive their income in relation to their work in Indian Bank Account. There may be different reasons and circumstances for receiving money into Bank Account in India. All these persons hold Non-resident status in India under the Income Tax Law. Hence, the fact is that they are Non-resident (NRIs, OCIs) who earn abroad but receive their salary in Indian Bank Account. In many cases, it is beyond control of these non-residents…