Hi Mr. Anil,
Its very much clear from artcile that any foreign allowance brought to India is taxable.
But, can you please still tell me which are the methods by which we can save the tax in India?
e.g. If somebody comes to India after foreign trip and he is carrying the Travel card (Multicurrency Card) in which there are 1000USD.
But the person was there only for 3 to 4 months.
Now, if he encashes this USD from the card owned bank into INR then, whether the money in INR will be taxable?
If yes, is there any mechanicsm, we can save the tax on this money?
Can you please help me to clarify my three doubts?