My god!!! such a great explanation, Swarnim "Kudos"

This was great help. I was searching it for long finally I found it.

Very useful content Ma'm. Tried to get this info in youtube.. got this video after a lot of search..

Thank u so much for helping us, for crystal clear explaination . may u have great success in ur life, hare krishna, thank you

This is very informative and useful, thank you!

@CA Swarnim Rai: Informative video. One question if there are capital gains which are charged at special rates, do we need to add those also to arrive at the tax rate for calculating foreign tax credit?

Very informative video.. kudos

you have given important information madam, thank you

Do we require to file form 67 in the case you explain in video or would it be fine to go with the ITR only?

That was very helpful madam ji

Do we need to consider the foreign salary according to the accounting period follwed by the foreign country or in our accounting perioda ?

What would be the relevant article for Dividend income from US Company Stocks

Hi, Do i need to fill Schedule FSI and TR in ITR-2 if I have FOREIGN INCOME but have NOT paid taxes on foreign income and not claiming tax relief because no tax paid in foreign country?

What should i need to enter under "Rate in %" where my client is earning salary income in Belgium and they don't have single rate but they are having slab rates ??

Very nice! Appreciation & Thanks

Very informative, please answer one query of mine :- when we calculate foreign income on salary, is it the taxable salary ( gross - social security contributions ).

Thank you madam for the video, how to apply for exemption like short stay on foregin income? is there any section where should we add those details as part of ITR1 and ITR2

What exchange rate to be taken in salary from germany and if no exchange rate os mentioned in the pay slip and also tax has been deducted in germany and kindly tell under which section we can claim dtta from Germamy?

Form 67 also needs to be filed or not along with return

Was looking for this all over youtube. Thank you so much for this video and explanation. My only question is why do we calculate Average Tax rate? If a person is already in 30% slab for Indian income and then adding foreign income to it the person will still be in 30% and that's what he is liable (30% under normal provisions) to pay. So why not Tax Rebate relief be calculated at 30% right away? Kindly clarify. And thanks again for the information shared!

Very informative video. Ma'm, how to claim tax relief as resident if foreign income should be taxed only by foreign country according to DTAA (exemption method)

Hello mam, any class available of your of tds return/ gst return filing course

Thank you madam this video help me lot 🙏🙏

The schedule FA is blocked in my ITR. Why is it so.?

Very very helpful !! But I have one query - can u pls help me answer below : I have 45 days incomes from Singapore 2021-22z rest of it is all in India. Now I have moved to Singapore for whole year 2022 .. for 2021-22 in India ITR, since I have not paid 2022 tax in Singapore , how should I claim Exempt of 45 days Feb to March 2022 income in my india ITR file ?

Madam, a friend of mine earned income at Qatar FY 2019-20 and recieved directly in Indian NRE account. As per the days calculation he founds to be Resident as status. Will the entire global income be Taxable? Plz clarify

Thnku mam for salary vedio....

Hello, what about calendar year and financial year as in India we account income as per financial year and in foreign income is accounted as per calendar year. My client earns salary in February and March 2024 in US and tax is withheld on the same , so do we include this salary in india income as he is a resident also how can we claim the tax credit for these 2 months as FORM 1042-S is available as per calendar year and not financial year. So if we show feb and march income in fy2023-24 return we cant claim the tax credit for the same as we dont have any proof to submit along with form 67.

Very informative video, I have one question what is the Netherlands company listed in USA, with holding 15% tax as per Netherlands and USA agreement on dividend, where I should I claim the this relief

My client who is in employment under ABC Ltd-Belgium for last 3 months for the FY 2022-23, but i need to enter the correspondin INR converted salary under salary head in ITR-3 but in india my client worked as employee under XYZ ltd. My question is i am not allowed to add ABC ltd-Belgium in employer column because it is asking TAN number which they dont have. Can i enter the ABC Ltd-Belgium salary under ABC Ltd employer or else where to enter the foreign salary??

Hi Mam, I was literally searching on internet more than 4 days to gain knowledge on this topic. Many thanks for sharing this video. It would be great if you can share us that manual computation excel sheet. Also I've 2 questions here 1.hope, first we need to file form 67 then proceed for ITR2 filings? 2. What in case we have bileteral agreement dtta under deduction method? Ex. Denmark, we have deduction method. In such cases can we take entire credit? A small suggestion from us , Also personally feel it would be better if you can use the high resolution camera while making your videos.

very helpful video. However one query : how should we proceed if the employer is based outside of india. In order to add employer the form mandatorily requires to mention pin code of the employer. But since the employer is based out of india, the pin code is not available

Commendable job 👏👏

In India financial year is from 1st April to 31st December, whereas in Foreign countries financial year is calendar year, so how tax paid abroad/relief will be calculated/reconciled

i have salary income from unicef gujarat income is under united nation act exempt which itr i have to file

Here is a situation:- A foreign company is hiring me on B2B contract basis. I will be paid in crypto but they have an agent who will convert the crypto in USD, so i will get paid in USD. So, first i will have to pay fees for conversion first? Now, when should i pay the tax? Do i have to register under GST for foreign salary under 20lakh per annum? Will i get the benefit of 44ADA? When and where do i have to pay tax? What if the foreign company deducts some tax before they pay me?

Hi thanks for the video. I want to knw If I file ITR in India same like above taking tax relief then am I required to file Tax return in the foreign country also.? If yes then what type of Return?

Mam as far as I am aware Salary Income from UK is exempt in India and taxed in India as per Article 16 of DTAA with Great Britain. Kindly correct me if I am wrong.

Ma'am, Australia mein kisika Salary Income hai toh kya karna hai India mein ITR mein dikhana hai ?

Hello Mam, Really great video with the compilation of all the details. I have 1 smaller questions. Perquisite income in foreign salary: Let say I was in foreign country X working for company A stock listed in foreign country Y. And company paid some RSU on which no tax was deducted neither in country X or Country Y. Only tax on salary was deducted. Now I am back in India and become a resident here. I understood we need to show that in FSI and Schedule TR and also file form 67 for salary where we want to claim relief. What about the Perquisite since no tax was deducted hence there is no Tax relief, Should that also been shown in schedule FSI or not?

What is the % rate of taxation in UK for salary received and also what is the % relief available in india against it as I am getting salary from Uk then came back to India.

It would be great if you help on these questions - How about deductions in other country? and After filling ITR2 Do I need to file Form 67 as well? and will you be able to help me filing ITR.

Hello ma'am, this is a very informative video. There is one question I want to ask that if tax has not been deducted in foreign country as there is no income tax in that country and salaried income was credited in foreign currency in the account in foreign country, how will I show it in ITR? Further it was remitted to India.

Very useful video.

What if earn from Salary in India and income from USA by providing accounting services? No taxes deducted by foreign company. Which Form should fill. If i can opt 44AD or need to go with 44ADA

Very helpful. Thank you

If salary is received from outside india from employer of foreign country..where will i show the employer address as income tax return takes only address of Indian company.

Thank you Swarnim. Do we have do this every year ? Like i have moved to Germany in Feb 2023. for FY2023 ITR Filing I have to show my salary in FTR Filing. for Next year I will be living in Germany Only / Then also I liable to pay tax In India on my Foreign Income .

Well explained

Thankyou very much! ☺️

From form1040 we have to take whole Tax paid amount or tax amount should be deducted by refund claimed in 1040

Anyone can help me with the type of attachment which i need to submit in form 67, where my client is earning salary income in Belgium

Thank you for informative video...Can you please also share this excel template?

Hello Mam I am earning in USD in India how can I file tax return?please let me know

MADAM INDIA KI CO NEPAL MAIN HAI USME JOB KARTA HOON TO USKI ITR KAISE FILL HOGI

I work in africa but I get my salary in India rupees. Somebody in India transfer salary to my India saving account. Under which head should I pay tax?

Good day madam I am Ram , on withdral of pf TDS deducted 30 % in Financial year 2021-2022, I need to file ITR but i am confused about resident status because I'm doing job in South Africa from last 3 year Follwing are details i was stay out side india 2021-2022 =(312 days in south africa) 2020-2021 =(365 days in south africa) 2019-2020 =(170 days in South Africa) 2018-2019 =( 0 days out of india) 2017-2018= (0 days out of india ) Please can you tell me which category i will come

Thanks 3000 🎉🎉🎉

Good Information.

How can I contact you regarding tax query ?

Mam, I have a doubt. I was in Onshore for 3 months. In Onshore, I was getting my salary which includes ( foreign component and India component) as Salary. I paid tax for my whole salary( Indian component + Foreign Component) in that country. Now, I can see in my ITR that my whole year India component salary is included as taxable. My question is, you are saying to declare whole foreign income but in my ITR, only Indian component salary is there. So how will I calculate and declare for those 3 months only in ITR2 Please reply

Closing value should be as per 31st Dec and not 31st March.

Thanks mam

Nice video on how to record foreign earnings in ITR. Similarly, great video a few months ago on how to record dividend earnings on foreign shares. Could you please also make a video on how to record LTCG and STCG on foreign shares? Thanks.

Thank you, it is very informative. Do we need to submit Form 67 for global income with the ITR-2?

Thank you Mam

If one also had Capital Gains would the same be added in Net Total Income and resultant STCG 15% & 20% LTCG Taxes be added to Total Tax to arrive at Average Tax Rate for Tax Relief?

as per the shown information filed the ITR - 2 but received demand filed rectification but no use.. still showing demand payable

Thank u

I have one question..future and option loss 67k and turnover 88k..i think i am not liable to book of accounts and audit..i wish to claim this loss but itr mei no accounts section mei negative figure put nahi ho rhi,so i filled balance sheet and pl and claimed this loss..kya maine sahi kia pls reply?

I need help with my ITR filing for similar scenario.

So in the video, you had initially given 40,52,703 as onsite income in the Salary schedule. So is it only the tax component of foreign income that we can claim back? Is it not possible to exclude the entire foreign income 40,52,703 as a taxable component? Because 30% usual income tax is still put on foreign income of 40,52,703 right?

I have one dout regarding the preparation of profit & loss account of f&o business ... There is diff in sales volume ... & Turnover ... How it will take pls explain in brief asap...

If total taxable income is less than 2.5 lakh but having FNO turnover more than 1 crore and having FNO loss of 2 lakh , then tax audit is mandatory or not? Please reply mam

Mam calculation of average tax rate is not clear. It appears that foreign income needs to be taxed at Indian rate and taxes paid overseas needs to be deducted as a relief under DTAA. Is it correct? If this is the 8:14 8:14 situation then tax liability on Singapore income (where tax rate is comparatively low vis a vis India) is very heavy. Please clarify

Article number should be 24 right? Article 16 of India UK DTAA is for full exemption route I guess. You can't claim tax in India because as per that article, income is exempt and not doubly taxed. Please correct me if I am wrong.

Hi, is this computation also applicable to resident indians ? i have worked in canada from April 2021 to July 2021, and then i have worked in india from Aug 2021 till Mar 2022. So i am resident indian for FY 2021-22. So to file my ITR this computation will be applicable in my case too ? please confirn

Please confirm why did you enter 31% tax in “Tax payable on such income under normal provisions in india” , we have 30% slab rate on this income range.

HELLO MAAM I HAVE A DOUBT REGARDING OBTAINING NRI STATUS. I am going abroad for employment and missing the NRI status requirement by few days? Can I take a foreign vacation to get the status?

Hi mam Please make video on capital gains from USA Thanking you.

May i know the rate of exchange date for foreign salary.. ??

Hi Mam I am doing MS in US.. While showing foreign income in ITR should I disclose Apr to Mar? If yes The foreign Tax credit in December will be from Jan to Dec right... Soo.. How should I show it in my ITR for DTAA... I mean should I do it like this.. Take credit pertaining to Apr to Dec with proof of Return and for Jan to Mar by producing payslips .... Please help me on this matter mam.

Main Dubai mein job krta hu aur Meri salary main Dubai bank account se India wale account mein transfer krta hu aur muje Loan Lena hai to Muje konsi itr bhrni pdegi muje knowledge nhi hai Kuch v so pls reply me mam

HI, I am a salaried individual but I have two salaries from one job in India and another job in U.S.A. [ Remote Job from INDIA - Bank Transfer Deposit Via Payroll - resident with Indian citizenship]. No TAX deducted from both salaries. NO PF, NO TA, DA HRA etc. Just basic salary. Should I fill ITR-1 form by combining gross salary from both jobs ? OR I should fill ITR-2 by showing two salaries with schedule foreign source income and U.S. country code? Please reply. Thanks.

Agar m NRI Hu tb b muje global income krni pdegi kya calculate and tcs ne tax q kata india m jabki m to nri hu uk m work krga hu