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A.Dear client,
Any income which accrues or arise in India is taxable here in India under section 5(2)(b). So income earned by seafarer like capital gain on sales of investment or property is taxable and required to be reported at the time of filing your return of income. Taxability generally depends on the value of the property
Any income which accrues or arise in India is taxable here in India under section 5(2)(b). So income earned by seafarer like capital gain on sales of investment or property is taxable and required to be reported at the time of filing your return of income. Taxability generally depends on the value of the property
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A.Dear client,
The salary received by a resident seafarer will be taxable as per the laws of the Income-tax department. No special exemption is available
Therefore, the government will Deduct tax @ 1% or 0.75% from the sale consideration (depending upon the Date of Payment/Credit to the Seller). Collect the Permanent Account Number (PAN) of the Seller and verify the same with the Original PAN card.
The salary received by a resident seafarer will be taxable as per the laws of the Income-tax department. No special exemption is available
Therefore, the government will Deduct tax @ 1% or 0.75% from the sale consideration (depending upon the Date of Payment/Credit to the Seller). Collect the Permanent Account Number (PAN) of the Seller and verify the same with the Original PAN card.
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