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Name : Rajeev G
Subject: Forex account for resident Indians
Message : A resident indian who wants to work from home in india for a foreign based company which provides clerical work (without direct employment in the company and company is not resposible for taxation for such part time work) and pays bi-monthly checks in US Dollar currency.

Query: In accordance to the rules layed out by indian government, taxation and fema/fera rules, is there any such service or account for an indian resident who wants to deposit cheques in foreign currency into bank. Is it allowed? If yes, then how is he taxed and what is the procedure?

I will highly appriciate your help. Thanks and regards,




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