I'm seeking employment from an US / European MNC , they do not have an office here in India. They would like to employ me on a 'contract'. All remuneration- Salaries, expenses will be reimbursed in U$D/Euros directly to my account. They are currently flexible to choose the headers on payslip that could help me save on Taxation.
a) In such a case- Since money is transmitted in U$D/Euro- which headers should i request them for to be shown in contract to save 'maximum income-tax' - as it'll be my personal liability from the payment received to be paid to IT.
b) Also related to expenses- reimbursements (This job will also have international+ Domestic travel for business)- how these could be claimed as proof will be here with me, while they'll only be reimbursing a the amount also to my expense. Would it help to keep the invoices / bills on this matter for Tax purposes ?
Does any CiteHR member have an experience over such a matter
From India, Bangalore
a) In such a case- Since money is transmitted in U$D/Euro- which headers should i request them for to be shown in contract to save 'maximum income-tax' - as it'll be my personal liability from the payment received to be paid to IT.
b) Also related to expenses- reimbursements (This job will also have international+ Domestic travel for business)- how these could be claimed as proof will be here with me, while they'll only be reimbursing a the amount also to my expense. Would it help to keep the invoices / bills on this matter for Tax purposes ?
Does any CiteHR member have an experience over such a matter
From India, Bangalore
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Typical salary breakup.jpg
Salary breakup.xls
Salary Breakup Annexure.doc