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guest
10/23/2001 09:43 EST
" Hi, everyone. I am about to join an Indian company in New Delhi, where my salary will be paid in rupees. I haven''t been able to find out how much of my income can be converetd to US dollars and sent back to the States to pay my ongoing bills. Do any of you know the answer to this, or know anyone who does? Thanks in advance! Joelle Brink "
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guest user
11/2/2001 02:26 EST
" Joelle For starters, welcome to Delhi, I''m sure you''ll enjoy it. My situation is a bit different, as I''m paid in USD and part of my income is deemed to be paid in India. It''s fairly complex - I let that accountants sort it out! As far as being able to convert the rupees into dollars and send back, there isn''t a real restriction. I do know that you can earn up to 78k outside the US free from US income tax as long as you stay outside the US for more than 290 days in a year. You don''t have to be anywhere specific, just outside the US and have your main place of work outside as well. Well, I''m rambling. If you need a good accountant in Delhi for international tax and income advice, shoot me an email. Jim "
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guest
11/5/2001 19:24 EST
" Thanks, Jim! I''m sure I will need a good accountant. I''ve traveled quite a bit in India, but being an expat, with all the practical and legal challenges thereunto pertaining, is entirely new to me. Joelle "
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joedesi
From: United States
1/4/2002 23:36 EST
Hi,
I am about to make the move to Bangalore from Boston. Did you ever find the answer to your currency question? I will be earning in rupees. Although I know that the reserve bank of India allows 75% of our salaries to be converted to US dollars, I am not sure what the procedure for that is. Do you have any good web sites/ information sources for this and other tax/money issues? I am looking for a good tax consultant in bangalore as well - any ideas?
Joe Desi
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gopalmeempat
From: United States
5/1/2003 15:05 EST
Hi:
I came across an old post of yours concerning convertibility of Indian Rupees to US$. Just wanted to verify again what you mentioned is true, i.e., 75% of ones salary is convertible if one takes up employment in India (to be compensated in rupees). Do you know of any official document where I can learn more about these rules ? Thanks.
Gopal
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