I work in a US-based IT firm’s office in India. The company is looking to temporarily send me abroad to its office in the US. What will be the income tax implications on the salary earned for the period abroad?

A. Basak, Calcutta

The determining factor for calculating income tax will be the residential status of the taxpayer. If during a financial year (April-March), a person is residing in India for more than 182 days, he will be treated as a resident. So, if a person is a resident in a particular financial year, he or she will have to pay tax in India even if part of the salary is received abroad. However, if a person is a non resident, only the income received or accrued in India will be taxed in India.

Property tax

What is the time frame for getting rebate on property tax under KMC’s jurisdiction?

S.C. Dutta, Calcutta

Usually, if property tax is not paid within 21 days of presentation of the bill, one cannot get the rebate on property tax. A one-time penalty of up to 15 per cent of the tax amount can also be charged if tax is not paid for the quarter.

Health for parents

I have recently shifted abroad because of my job. Since my new employer provides medical coverage, I want to opt out of the family floater health insurance plan that I jointly operate with my parents in India. However, I would like to continue with the policy for my parents. Is there a way to do that?

S. Mukherjee, Dum Dum

If you are the policy proposer, you can always nominate either of your parents to become the proposer and opt out of the medical insurance policy. While the policy itself will continue, the premium payments may change. Also, check with your insurer whether all the benefits of the policy will be applicable and the necessary procedure required for the process.

If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to: btgraph@abp.in, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001.