Salary earned in Singapore for 2004-05 is taxable in Singapore and the remittance of 75000/- is not taxable in India. Likewise salary earned for 2005-06 is taxable in Singapore and not in India.
In earning 3 streams of income i.e. rental, business and capital income, what is the position to taxation in India for a NRI as there is a Double Taxation Pact with Australia. Secondly, is there any way the income can be remitted overseas? Is there any time period after which these incomes are permitted to be remitted or at any time after investment?
In respect of the streams of income a non-resident can opt for a flat 20% tax subject to certain conditions. The said income can be remitted overseas subject to RBI regulations.