Foreign currency accounts: foreign nationals deputed to India may receive part of salary abroad subject to rupee payment and tax. A new sub regulation permits a foreign national resident in India deputed by a foreign company to open and maintain a foreign currency account abroad and receive salary for services rendered in India credited thereto, subject to conditions that no more than 75 per cent of the salary be credited to such account, the remainder be paid in rupees in India, and income tax under the Income Tax Act, 1961 be paid on the entire salary as accrued in India.
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: foreign nationals deputed to India may receive part of salary abroad subject to rupee payment and tax.
A new sub regulation permits a foreign national resident in India deputed by a foreign company to open and maintain a foreign currency account abroad and receive salary for services rendered in India credited thereto, subject to conditions that no more than 75 per cent of the salary be credited to such account, the remainder be paid in rupees in India, and income tax under the Income Tax Act, 1961 be paid on the entire salary as accrued in India.
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