Foreign currency accounts: resident employees may receive whole salary abroad if Indian income tax is paid on salary accrued in India. The amendment allows specified resident employees-foreign nationals resident in India employed by foreign companies, and Indian nationals employed abroad and deputed to the foreign company's Indian office-to open and maintain foreign currency accounts abroad and receive their entire salary there, on condition that income tax under the Income tax Act, 1961 is paid on the whole salary as accrued in India; it also declares that the term 'company' includes a Limited Liability Partnership for this sub regulation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign currency accounts: resident employees may receive whole salary abroad if Indian income tax is paid on salary accrued in India.
The amendment allows specified resident employees-foreign nationals resident in India employed by foreign companies, and Indian nationals employed abroad and deputed to the foreign company's Indian office-to open and maintain foreign currency accounts abroad and receive their entire salary there, on condition that income tax under the Income tax Act, 1961 is paid on the whole salary as accrued in India; it also declares that the term "company" includes a Limited Liability Partnership for this sub regulation.
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