Income Tax on Remittance from Oman to Indian Saving Account

Pawankumawat

Member

Member since 15 March 2018

Pawankumawat

25 August 2018 10:46:27

Pawankumawat

25 August 2018 10:46:27

From last 6 month, I am visiting Oman on Express Visa and every 28 days exiting from Oman, I am providing Project Management services there and receiving per month payout in Omani Rials and depositing in my savings account of India through money exchange remittance.

Kindly confirm this deposited amount will be taxable or not?

Thanks in advance.

Regards

Pawan Kumawat

Sumitran

India Expert (Chennai)

Member since 04 October 2009

Sumitran

25 August 2018 19:05:06

3586

Sumitran

25 August 2018 19:05:06

3586

Hi Pawankumawat,

Oman is still 100% tax free for remittances.

But in India, since you are transferring the funds to your Savings Account, you would be taxed.

You should have an NRE account to be able to avail of the tax free benefits.

Even the NRI account is taxable.

Speak to any local (Indian) bank or banker for more details.